FSCA Invites Comments on Proposed Amendments to JSE Interest Rate and Currency Derivatives Rules

Posted 30 October 2026 Written by Acts Online
Category Financial Markets

Brought to you by SA Legal Academy: In terms of the Financial Markets Act, No. 19 of 2012, the Financial Sector Conduct Authority (FSCA) has published a notice calling for public comments on proposed amendments to the Johannesburg Stock Exchange’s (JSE’s) interest rate and currency derivatives rules and directives.

The proposed changes have been developed in the context of implementing JSE Clear’s bonds central counterparty (CCP) project. The revisions are marked up against the existing rules and directives operative since September 2023.

The deadline for public submissions and written representations is 13 November 2026.

Key Regulatory Focus Areas

  • Integration of bond clearing workflows with JSE Clear’s licensed central counterparty model;
  • Alignment of default management procedures, margining rules, and participant liabilities across interest rate and currency derivative markets; and
  • Operational adjustments to exchange directives governing market members, authorised users, and clearing members.

What this means for you, your business, or your clients

  • For yourself: Compliance and capital markets practitioners must review the marked-up amendments against existing exchange clearing documentation to identify operational and legal reporting adjustments.
  • For your business: JSE member firms and clearing participants must assess the risk, collateral, and capital adequacy requirements arising from the JSE Clear bond CCP integration and file submissions before the 13 November 2026 deadline.
  • For your clients: Institutional trading and treasury clients holding derivative and bond positions must anticipate changes to margining schedules and trade novation procedures under the revised counterparty framework.

Originally published at https://legalacademy.co.za/news/read/capital-markets-input-sought-on-amendments-to-jse-interest-rate-and-currency-derivatives-rules

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