188:, with local government, public enterprises and major corporations accounting for the rest of the debt issuers active in the market. The number of borrowers and listed bonds as well as the market capitalisation had all risen sharply, at December 2008 BESA had listed some 1,102 debt securities, issued by 100 sovereign and corporate borrowers, with a total market cap of R935 billion.
213:(FSB). BESA's rules and directives served as a tool for regulating both issuers and trading participants. Extensive rules also applied to trading participants, with BESA undertaking active surveillance over all aspects of market activity as well as requiring compliance with a variety of best-practice standards.
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In
December 2007, BESA converting from a mutual association to a public company. This was followed by a rights issue which was concluded in October 2008, injecting fresh capital into the business and introducing new strategic partners to the exchange. With demutualisation and capitalisation achieved,
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BESA was granted its exchange license in 1996 and over the next twelve years was responsible for the development of the bond market in South Africa. As an exchange, BESA was in the business of providing a range of platforms and services to address the needs of capital market participants, be it
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economies. Turnover reported on BESA in 2008 reached R19.2 trillion. Given listed debt securities of R825 billion nominal. However the local bond market was still dominated by securities issued by the
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As the direct regulator of the bond market, BESA operated within the framework of the
Securities Services Act 2004 of South Africa and a set of rules and directives approved by the
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BESA focused attention on furthering capital market infrastructure in South Africa through the introduction of projects such as;
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302:"HM Revenue & Customs: Designation of the Bond Exchange of South Africa as a recognised stock exchange for tax purposes"
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In 2009 the
Johannesburg Stock Exchange acquired the BESA for R240 million and rebranded as the JSE Debt Market.
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markets in South Africa. Prior to its acquisition it was constituted as a public company.
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129:. The entity, now through the JSE Limited, operates and regulates the debt
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327:"NASDAQ OMX and Bond Exchange of South Africa Limited Establish BondClear"
277:"BESA & JSE welcome approval of merger by competition authorities"
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By 2008 the South
African bond market was a leader among
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121:based in Johannesburg. It was acquired by the
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381:Financial services companies of South Africa
233:South African Institute of Financial Markets
171:Justtrade.com - South Africa’s first online
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256:"Moves to make bond trading fairer to you"
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165:solution developed in partnership with
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17:Bond Exchange of South Africa Limited
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228:The South African Futures Exchange
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391:Companies based in Johannesburg
125:in 2009, and rebranded as the
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304:. Hmrc.gov.uk. Archived from
111:Bond Exchange of South Africa
64:Johannesburg Stock Exchange
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204:Old logo used by the BSEA
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211:Financial Services Board
186:South African government
153:, traders or investors.
376:Economy of Johannesburg
258:. iol.co.za. 2011-10-30
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161:BondClear Limited - a
117:) was a South African
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195:Rules and protections
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45:Financial services
348:"JSE Debt Market"
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350:. JSE Limited
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308:on 2008-10-10
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283:on 2013-08-20
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62:Purchased by
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386:Fixed income
352:. Retrieved
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331:. Retrieved
329:. Nasdaq.com
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310:. Retrieved
306:the original
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281:the original
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260:. Retrieved
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167:Nasdaq, Inc.
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91:South Africa
85:Johannesburg
80:Headquarters
31:Company type
223:Bond market
138:derivatives
123:JSE Limited
74:JSE Limited
370:Categories
333:2008-10-14
312:2008-10-14
287:2013-08-20
262:2013-08-20
239:References
131:securities
149:issuers,
70:Successor
354:July 22,
217:See also
175:exchange
163:clearing
98:Products
41:Industry
144:History
51:Defunct
356:2014
133:and
115:BESA
109:The
59:Fate
54:2009
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247:^
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113:(
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