1. ISSA PROPOSAL ON GLOBAL CORPORATE ACTIONS PRINCIPLES

2. Agenda Key Principles and Objectives Background Way Forward
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

3. Objective Key Principles and Objectives Background Way Forward
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

4. Key Principles Straight-Through Processing (STP) and ISO Standards
Message Content
Issuer Sourced Key Information
Required Information
Unique identifiers
Timelines of Notification
Process harmonization within and across markets
Publication of Event Rules
Protecting investors' rights
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

5. Objectives
To synthesize existing and emerging global industry initiatives on corporate actions processing and thereby publish principles that would facilitate risk reduction, efficiency, investor protection, and issuers’ ability to reach a broad investor base, highlighting gaps in current practices and areas that would benefit from concerted action.
 To facilitate the alignment of efforts among the various industry groups and advocate these principles globally to relevant stakeholders — the entire securities investment industry, issuers and their agents, and regulators —and facilitate the monitoring of issues and developments in key markets around the world, with respect to the principles.
 To highlight recommended practices being implemented or planned around the world, and provide a one-stop reference point to relevant work being done by industry groups globally, with links to their websites.
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

6. Background Key Principles and Objectives
Global Issues and Strate’s comments
Way Forward
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

7. Global Issues and participation
Provision of information from source
Market education including usage of common language globally
Different timelines across various instruments/markets
Fraction Handling
Active participation is required which can be channeled via Strate on behalf of AMEDA
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

8. Highlights from Strate’s Comments on the ISSA publication
Specifically with reference to a move to a T+3 settlements cycle in South Africa
Based on the current T+5 model which:
Limits claims in the market
Regulates Issuers
Provides the most value to Investors
Additions for Key Dates, such as finalization dates, EX-date and LDT+1
Pay Date: Is always RD +1 in the South African Market as a standard
Unsettled Transactions Management Including Claims: as the LDT concept has reduced market claims as investors have a clear indication of the last point to trade to qualify for an entitlement
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

9. Way Forward Key Principles and Objectives Background Way Forward
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

10. Way Forward
Comments have been sent to the ISSA Board, however additional comments will be accepted
Strate will be the single point of contact to co-ordinate and assimilate feedback between AMEDA and ISSA
CAE project has provided Strate with specialist IP in terms of defining the rules that will govern the processing engine of the Equities CA system. As this is the information that is required from an Issuer, via, the JSE, we thought that the best way to get this information, would be directly from the Issuer themselves.
There has been a great focus globally, via, Swift, DTCC, (to name a few ) and all active Asset Servicing groups to standardize the processing of CA’s, with a specific focus on the source.
We envisage that there may be an opportunity to utilize the IP that Strate has invested into from a business and a technological perspective so that we don’t fall into the ‘old age ‘ trap of ‘re-inventing the wheel’

11. Questions