Bourse Africa Clear
The company was incorporated on 14 February 2013 and has been granted a Clearing and Settlement Facility License pursuant to Section 10 of the Securities Act 2005, the Securities (Licensing) Rules 2007 and the Financial Services (Consolidated Licensing and Fees) Rules 2008. Bourse Africa Clear Ltd is licensed by FSC to undertake clearing and settlement functions for trades done on Bourse Africa .
The Clearing House has adopted the best practices available in the industry to ensure transactions are managed and completed seamlessly and includes capital adequacy norms for membership, dedicated settlement guarantee fund, globally accepted margining system, real time monitoring of member positions based on position limits, automatic trading restriction on breach of Margin / Mark to Market limits and multilateral netting of obligation.
Clearing and Settlement Licence