Because the JSE have reduced their settlement periods, effective on Monday the 11th of July 2016, we are reducing ours, which will mean that you can get access to funds from the sale of your Securities and your purchased whole Securities delivered to you even quicker than before.
Please read the formal communication below.
Please be aware that in line with the amendments to the Johannesburg Stock Exchange (“JSE”) Listing Requirements, which applies to the reduction of the number of business days within which the transactions must be settled, Satrix Managers (RF) (Pty) Ltd (Satrix) have applied the reduced settlement period in the following manner:
1. We have reduced the number of days within which the profit or income from the sale of your Securities will be settled, from 10 (ten) business days to 5 (five) business days.
2. The period within which the whole Securities which are successfully cleared and settled by the CSD and the Recognised Exchange will be delivered to you, has been reduced to 8 (eight) business days.
The effective date for these changes is Monday, the 11th of July 2016. The last day of application of the ten (10) business day settlement is Friday, 8 July 2016.
Terms and Conditions
We have amended clauses 10.4 and 10.8 of the Terms and Conditions to incorporate the new settlement periods.
To view the full Terms and Conditions please click HERE.