Strate, and key representatives from South Africa’s financial markets, hosted the board of the Nigerian Central Securities Depository (CSD), CSCS Nigeria, during July 2015.
The intention was to forge closer relationships between the two countries and to understand the various roles and responsibilities performed by key organisations in the South African financial markets. This included the technologies used, strategies and policies followed, approaches to governance and the products and services available.
This relationship was further entrenched by the signing of a Memorandum of Understanding (MoU) with CSCS at the Sibos event held in Singapore during October 2015, which allows both parties to explore opportunities for mutual cooperation in the post-trade settlement arena to the benefit of their respective financial markets.
The agreement includes:
- Regular meetings between senior management to increase mutual understanding of business developments;
- The exploration of solutions that are of mutual benefit to both CSDs; as well as
- Mutual consultation aimed at improving co-operation between their respective securities depository and settlement systems, or at strengthening the co-ordination between the securities depository infrastructures of both countries.
Strate looks forward to developing this long-standing and valuable relationship with CSCS and the possibilities that this MoU brings to the financial markets of Africa’s two largest economies.
Representatives from Strate and CSCS Nigeria at Strate’s Offices in Illovo, Johannesburg.
Back Row (From left to right): Dale Connock, Rudi Steenkamp, Sola Adeeyo, Obinna Nwosu, Haruna Jalo-Waziri, Hannes van Eeden, Ariyo Olushekun, Iann Seymour-Smith, Charles I. Ojo, Emeka Madubuike, Obianuju Okeke.
Front Row (From left to right): Leigh Bevis, Tanya Knowles, Oscar Onyema, Monica Singer, Kyari Bukar, Ifueko Omoigui, Maria Vermaas.
