Interest rates

JSE Trustees rates

Sample document: August 2014 – JSE Trustees market notice – stating that Interest to be paid on monies deposited with JSE Trustees (Pty) Limited on Managed Accounts and Cash Operations during the month of August 2014 will be as follows:

 

JIBAR rates

The Johannesburg Interbank Agreed Rate (JIBAR) – this is the money market rate that is used by South Africa. The rate comes in one-month, three-month, six-month and 12-month discount terms. JIBAR is calculated as a yield and then converted into a discount. The rate is calculated daily after all of the rates are received by participating banks. You can view the current and historical rates from the JSE website:

 

CFD Reference rates

  • Nedbank uses the SAFEY as a reference rate
  • Overnight Long = SAFEY plus 2% paid daily
  • Overnight Short = SAFEY less 3% paid daily
  • Interest on margin account = SAFEY less 1.5% paid monthly

Other CFD providers may use other reference rates; and these may change from time to time. But the above is a fair reflection of what you can expect to pay/earn on the different legs of your trade. So on a long position you pay just under 7% funding per annum, calculated for the number of days that you keep the position open; for a short position you earn just under 2% per annum, and on any cash lying in your margin account you earn just under 4% per annum.

 

Current SAFEY rate

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Historial SAFEY rates

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