Settlement_B Flashcards
Define “non-controlled client”
A client or an account holder on whose behalf a client is acting, who has appointed his own CSDP to settle transactions
in equity securities on his behalf.
Define “registered owner”
A person or entity which appears on the main register of an issuer kept in terms of the Companies Act, and a person
or entity which appears on the uncertificated securities register of that issuer kept by a CSDP in terms of the
Companies Act.
Define “ring-fencing”
The process in terms of which linked deliveries and receipts which emanate from off book trades are separated and
distinguished from deliveries and receipts which emanate from transactions in the central order book of the JSE
equities trading system.
Define “settlement agent”
Means a CSP or other member appointed by a member in terms of directive FI to assist the member in managing the
settlement of transactions executed by the member on behalf of non-controlled clients.
Define “Settlement Authority”
The person or persons appointed by the JSE to manage the settlement of transactions in equity securities effected
through the JSE equities trading system in terms of the rules and directives.
Define “settlement commitment”
An electronic undertaking by a CSDP to settle a transaction in equity securities.
Define “settlement date”
Settlement date means, in respect of a transaction in equity securities, the date on which the transaction is due to be
settled.
