The capital adequacy of members is continually reviewed and monitored. The requirements therefor are based upon the European Union standards.

The exposure to risk arising from trading in options, futures and bonds is measured and controlled in daily collaboration with those markets.

Each member is required to lodge a third party guarantee with the JSE as cover against outstanding obligations to the ECH in case of default. In turn, the ECH guarantees performance between members in the event of the default of a member.


Internet :

Johannesburg Stock Exchange * Public Relations Department
17 Diagonal Street * Johannesburg 2001 * Telephone 27 11 377 2200
P O Box 1174 * Johannesburg 2000 * Telefax 27 11 834 7402

Business Monitor 1996 - Tel +44 (0) 171 820 7733