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Organisations are allowed to apply for membership of JSE Clear, in order to provide clearing services for its own clients (if the organisation is an exchange member) and/or to exchange members with whom it enters into clearing agreements and to the clients of these exchange members.

JSE Clear currently considers applications for membership from three types of organisations:

  1. A bank or branch of a foreign bank that is licenced and regulated by the Prudential Authority
  2. A subsidiary of a bank or foreign bank (the latter of which must be established in a jurisdiction that adheres to the Basel requirements)
  3. An exchange member

Further details regarding the requirements to become a Clearing Member of JSE Clear can be found in section 3 of the JSE Clear Rules.

List of Members
Fees

Detailed JSE Clear fees can be found on the following Fee Schedule.

Process for Application
  1. Applicant meets with JSE Clear Exco to discuss the prospect of applying for membership
  2. Applicant submits application form and Portfolio of Evidence (POE) to JSE Clear Chief Compliance Officer
  3. Chief Compliance Officer confirms application completeness and submits the application to the JSE Clear Exco for review
  4. If the JSE Clear Exco are happy to endorse the application, they recommend the application to the JSE Clear Membership Committee for consideration
  5. The Membership Committee formally reviews the application, against the requirements of the JSEC Rules, and the JSE Clear Exco’s recommendation
  6. If the application is approved, the JSEC Board is informed of the decision of the Membership committee
  7. A letter of approval of membership is sent to the applicant (as well as agreements to be signed and a list of additional documents to be provided by the applicant)
  8. Post conclusion of all required agreements, JSE Clear Chief Compliance Officer initiates formal on-boarding processes

Enquiries regarding membership for JSE Clear can be directed to [email protected]
A copy of the JSE Clear Membership Application Form can be found here.

Rule Book

A copy of the JSE Clear Rule book can be found here.

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