South African CSDs Create Collateral Management Industry Forum
As pressure to meet growing local and international regulatory requirements increases, the centralized collateral management service will help South Africa's largest financial institutions, including the Johannesburg Stock Exchange (JSE), more efficiently manage their collateral and mitigate operational and credit risk within the South African market.
"Collateral has become a very scarce resource and sourcing good quality collateral is increasingly expensive. The service looks to manage collateral holdings and exposures much more efficiently to provide markets with access to much needed liquidity," says Stefan Lepp, head of global securities financing and member of the executive board of Clearstream.
The collateral management system was initially developed by Clearstream as an outsourced service to market infrastructures, like CSDs, in Brazil and Australia.
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