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:
- Average interest rate earned 5.98%
- Management fee to JSE Limited 0.20%
- Interest rate declared 5.78%
- Most current rate can be found on https://www.jse.co.za/trade/equity-market
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:
- JIBAR rates: https://www.jse.co.za/downloadable-files?RequestNode=/Safex/mtmdata
- SARB – more rates: https://www.resbank.co.za/pages/default.aspx
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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