South Africa’s financial markets are consistently praised as the most advanced in Africa, while its financial regulatory system, particularly at stock exchange level, has been judged on more than one occasion to be the best in the world. Regulatory excellence was no doubt an important factor in the unusual resilience displayed by the financial sector during the global financial crisis of 2007/8. However, South African regulatory authorities, not wanting to be complacent, are continuing to follow international good-practice initiatives to enhance the resilience and integrity of the financial system. Market practitioners, too, are striving to keep up to date with financial and technical innovation, globalisation, increased competition and the blurring of traditional boundaries between financial institutions and financial products and services. Understanding South African financial markets provides a comprehensive overview of the various aspects of South African financial markets and the institutions that operate within them.
Understanding South African financial markets has been compiled by practitioners from the financial markets and experienced faculty members in economics and financial management. Each chapter starts with study objectives relevant to the material covered. Jargon that may be unfamiliar is explained in lay terms, and both international and local market practices and norms are discussed where relevant.
Understanding South African financial markets is an introductory text that should serve as a useful reference and guide for commerce students, public servants and members of the business fraternity alike.
Karin van Wyk is the CEO of the South African Institute of Financial Markets, a professional body for the financial markets recognised by SAQA. SAIFM conducts examinations for the financial markets and the JSE Ltd. She holds a BA(Law) and an LLB from the University of Pretoria, and a BCom (Economics and Business Economics) from Unisa. She also holds a Diploma in Financial Markets from the University of Johannesburg.
Ziets Botha spent 16 years at the South African Reserve Bank as a learning and development specialist, focusing on financial markets training in particular. He joined Intellivest Financial Services as a portfolio manager and financial adviser in 2015. He holds a BCom Honours (Econometrics) from the University of Pretoria and an MCom (Economics) from the University of Johannesburg, and is a Fellow of the SA Institute of Financial Markets.
Ingrid Goodspeed has over 25 years’ banking and financial markets experience in the areas of treasury, risk management, compliance, investment analysis, economic research and information technology. She is a Chartered Director (SA) and Fellow of the South African Institute of Financial Markets. She holds an MBL (cum laude), a BCom Honours (Economics) and an LLB from Unisa.
Chapter 1 Introducing financial markets
Chapter 2 The South African Reserve Bank
Chapter 3 Banks
Chapter 4 Microfinance institutions
Chapter 5 Regulation of the financial markets
Chapter 6 Insurers
Chapter 7 Retirement funds
Chapter 8 Investment institutions
Chapter 9 Financial market terminology and technicalities
Chapter 10 The money market
Chapter 11 The bond market
Chapter 12 The equity market
Chapter 13 The derivatives market
Chapter 14 The foreign exchange market
Chapter 15 The commodities market
Chapter 16 Taxation in the financial markets
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• A comprehensive Test Bank and memorandum, including the following types of questions: Multiple-choice, Written questions, True or False, Fill in the missing word/s and Choose the correct term for the fifth edition is provided. (A Test Bank for the 6th edition will be developed and made available as soon as possible)
• Suggested answers to Review questions in the textbook
• Jpegs of all figures and tables
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