SAIFM wants to ensure that students have the option of completing their studies in the safety of their homes during the unprecedented circumstances of the COVID-19 pandemic. As a result, most centre-based exams, including Strate compliance exams, facilitated by SAIFM, are available online through Microsoft Teams. To book your online exam, please click here.
For any enquiries, contact the Strate Academy at academy@strate.co.za
Societe Generale Johannesburg Branch has voluntarily terminated its participation in Strate’s equity, bonds and money market environments. It ceased to be a full bank participant in the Strate environment with effect from 8 April 2020.
The Societe Generale custody and trustee business has been successfully transitioned to Absa Bank Limited.
Societe Generale has been a Strate client for many years and over that time has played a vital role in the financial markets ecosystem through its participation in market workshops, committees and forums. Its commitment to the testing and implementation of new products and services has been invaluable in assisting Strate to successfully introduce innovations to the market.
We wish Societe Generale great success as it focuses on its new strategic plan.
Created to alleviate and mitigate the build-up of systemic risk in financial markets, regulations drafted and implemented in South Africa post the global financial crisis have brought with them major complexities.
For entities with multiple exposures across various markets (e.g. a bank with multiple securities financing and derivative disciplines) this compounds to a plethora of regulatory, reporting and capital obligations for a single entity.
It is not surprising then that the cost implication of managing inventory and associated operational complexity across silos and eligibility requirements is costing companies significantly more than anticipated. In fact, according to Deloitte in 2017, when compared with pre-financial crisis spending levels, operating costs spent on compliance have increased by over 60% for retail and corporate banks. From reporting, to collateralisation, to capital penalties imposed for failure to conform, the cost associated with an inefficient strategy will become a competitive issue in the future, directly affecting bottom line performance.
While South African banks may not have been hit by the full force of the regulatory tidal wave just yet, the top tier banks are starting to feel the compounding effects. Phase 5 and 6 of the European EMIR uncleared margin requirements mandating the provision of non-cash collateral for initial margin comes into effect in September this year, tailed in 2021 by the JSE Securities Exchange’s acceptance of non-cash collateral for initial margin for exchange-traded derivatives in South Africa. Add these regulations to the current Basel IV requirements demanding collateral and reporting for LCR, NSFR in 2021, and the upcoming SACCR requirements in October (non -modellable approach for measuring counterparty credit risk associated with derivatives), and a strong case is made for the accelerated adoption of internal and external systems and compliance technologies.
Given the impact of various forms of regulation across numerous areas, there is increased demand for standardised reporting as well as greater contention over access to high-quality collateral. With an estimated R60 billion shortfall in high-quality liquid assets in South Africa according to the SARB, a cross-asset, cross-functional view that consolidates data and takes into consideration holistic collateral inventory will help to drive profits and a competitive strategy. It is, however, the bank that does collateral inventory management best that will gain the competitive advantage.
Kelly Robinson
Strate Collateral Services
The COVID-19 pandemic is impacting our economy, our face-to-face business interaction and placing insurmountable strain on governments and healthcare systems in South Africa and globally. We acknowledge that this is a critical time for our clients as we all establish ways to manage the National State of Disaster.
Strate’s resilience measures remain focused on ensuring we continue to serve the financial markets while withstanding a diverse and varied set of stress scenarios. As such we have taken the necessary steps to enable our employees, clients and business partners, through our digital platforms, to carry on with business-as-usual activities.
Strate implemented an electronic voting platform in December 2019, that provides you with an e-Voting solution. This is an end-to-end voting solution to cater for the South African market with the primary focus of reducing risks and inefficiencies in the value chain.
In light of the conditions we face in managing the pandemic, one of the benefits of e-voting is the ability to host virtual meetings for your shareholders. For issuers facing the cancellation of shareholder meetings, e-voting enables you to still go ahead with your meeting virtually via our digital platform. The in-platform chat functionality allows for interaction between shareholders and issuers and maintains the integrity of the process.
We would like to assure you that during the nationwide 21 days of lockdown, it is “business as usual” at Strate as we are 100% committed to business continuity. Through our combined efforts as a market, we can stand together to flatten the curve and decrease the spread of COVID-19 in South Africa.
Strate remains committed to serving the South African financial markets. Should you have any questions regarding the use of Strate e-Voting, please contact the team on e-Votingteam@strate.co.za
The world is dealing with an unprecedented global health emergency, Novel Coronavirus disease (COVID-19). At Strate, we have been closely monitoring the situation. Our primary concern remains our ability to continue our services to the financial markets while ensuring the wellbeing of our employees in the face of this pandemic threat.
We would like to assure you that Strate has taken the appropriate measures to ensure the continuity of our business activities. We are leveraging various technology solutions to remain productive and in constant communication with our employees and the markets as a whole.
As a systemically important financial institution, we would like to assure you that during the nationwide 21 days of lockdown, it is “business as usual” at Strate as we adapt to the new way of working but rest assured that we are 100% committed to business continuity, just as we are in upholding the well-being of our employees and helping the country curb the spread of the coronavirus.
We have supplied back-up power appliances to ensure business continuity during power disruptions when employees are operating remotely. These measures have been extensively tested and we are pleased to report that Strate is prepared.
Despite the exceptionally high volume of transactions being processed across the financial markets, Strate is performing well, with all services operating normally. Our focus remains on serving the financial markets with the same level of efficiency and commitment you have come to expect from us.
We appreciate your support and understanding as we all adapt to these challenging times.
For more information, contact info@strate.co.za
Strate new administrative offices have been completed and we are excited to have relocated to THE MARC as of 30 April 2019.
Our new address is:
5th Floor, Tower 1, THE MARC
129 Rivonia Road
Sandown
Sandton
2196
Our postal address and telephone numbers remain unchanged.
We look forward to welcoming you to our new offices soon.
South Africa is facing a major challenge of one the highest youth unemployment rates in the world. The Financial Markets industry is ageing and the struggle for good quality skills is a constant battle among many organisations.
Strate has identified three separate, but complimentary projects, which will provide a sustainable pipeline of skills. The partners identified for each project were chosen based on their experience, willingness to partner with industry and passion for development of youth skills in South Africa.
The interconnectedness between the projects is vital to ensure that there is continuity of learning between each project. This interconnectedness is depicted below:
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On 1 December 2016, Strate held a farewell in honour of Bobby Johnston. Johnston was Strate’s Chairman from January 2011 to October 2016, and played a key role in the development of Strate 20 years ago.
Monica started as the Project Manager of Strate in October 1996, where she met Johnston in his role as the then Chairman of the JSE. He mentored Monica since then and has been influential in making Strate the successful company that it is today.
Here are some pictures of Johnston’s farewell:
Earlier this year, Strate was given the opportunity to apply for an international award for innovation through a UK publication called the FSR (Financial Services Research).
This publication is a very well read and respected publication internationally, particularly in the financial markets.
The appetite for product and service innovation is vital to the development of the financial services industry, and winning this award would illustrate our commitment to delivering creative new solutions that help clients.
Strate entered its online training application, e-Tutor, to be considered for this award. FSR acknowledged it will be recognising excellence in product and service innovation by awarding a Gold Standard to a limited number of selected organisations that have made an outstanding contribution in this area.
After various interviews and rounds of evaluations undertaken by a panel of international industry experts, Strate was awarded the Gold Standard Award for Innovation for the tool.
This award gives Strate great exposure and world recognition for innovation and unmeasurable credibility for the app.
Click https://www.training.strate.co.za/ to launch the App.
With the 2015 IRB Rugby World Cup underway in England until 31 October, local supporters have been getting behind the Springboks. While Strate is also proudly joining in on the support, it has chosen to also look at how to contribute to the future of the national sport.
Strate donated to the South African Rugby Union’s (SARU’s) Rugby Foundation’s Academy Programme, giving a player the opportunity to study at university or a technical institution with simultaneous rugby specific training.
Junior Pokomela, a SARU Academies player who plays in a loose forward position, will receive the Strate bursary. He matriculated at Grey High School, Port Elizabeth, in 2014 and participated in both the South African schools Rugby 2014 and the SARU Kings Academy. Pokomela is currently completing a Diploma in Management (NQF Level 6).
Strate, along with other donors, is playing a crucial role in assisting SARU to select and nurture our next generation of stars to follow graduates such as, Tendai ‘Beast’ Mtawarira, J P Pietersen and Pat Lambie – all players whose world-class skills were developed under the auspices of the Academy.
According to Hans Scriba, the spokesperson for the Academy, there are limited resources to give every player an opportunity and a broad base of donors are needed to give more players leaving high-school the opportunity to develop their skills, as well as their studies. This allows them to not only sit with a good rugby pedigree, but also with a degree or a diploma that enables them to secure a job as well.
At Strate, it is in the company’s DNA to proudly live beyond a bottom-line approach, giving back to society. Education is close to the company’s heart and it believes the SARU bursary will create sustainable value, offering an individual an opportunity to develop and make an economic contribution, with the added potential of developing his sporting talent enough to enable him to achieve his rugby dreams as well.
SARU aims to reach a target of 90 players throughout South Africa in 2015 as a result of the donations. It wants to create a sustainable system of excellence for talented 18 – 22 year old rugby players in South Africa to achieve their goal of becoming world class professionals – on and off the field. The emphasis is on producing well-rounded leaders for the future and the three year course will include life-skills training as well as nutrition and health courses under the constant supervision of trained SARU personnel.
Players will be able to choose the vocational or educational course best suited to their specific aptitudes, which will be provided free of charge. On completion of the three-year Academy course, graduates will have the skills and capabilities to pursue a professional rugby career and, importantly, will also have achieved a tertiary diploma or degree.
Monica Singer with Hans Scriba
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