LEADER 05461oam 22011294 450 001 9910788227703321 005 20230721045715.0 010 $a1-4623-8199-5 010 $a1-4518-7343-3 010 $a1-4527-9143-0 010 $a9786612844041 010 $a1-282-84404-0 035 $a(CKB)3170000000055341 035 $a(EBL)1608813 035 $a(SSID)ssj0000943304 035 $a(PQKBManifestationID)11503279 035 $a(PQKBTitleCode)TC0000943304 035 $a(PQKBWorkID)10977407 035 $a(PQKB)10703416 035 $a(OCoLC)649749810 035 $a(MiAaPQ)EBC1608813 035 $a(IMF)WPIEE2009196 035 $a(EXLCZ)993170000000055341 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Derivatives Market in South Africa : $eLessons for Sub-Saharan African Countries /$fOlatundun Janet Adelegan 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (36 p.) 225 1 $aIMF Working Papers 300 $a"September 2009." 311 $a1-4519-1766-X 327 $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Background; III. Current State of the Market; 1. South Africa: Share of Emerging Market Over-the-Counter Derivatives, 2007; 1. Trading Volume of Over-the-Counter Derivatives in South Africa, 2001-07; 2. South Africa: Trading Volume of Exchange-Based Traded Derivatives, 2007; 2. Trading Volume of Exchange Based Options and Future Contracts in South Africa, 2001-2008; 3. Change in Exchange-Based Derivatives in South Africa 2001-07; 4. Economic and Capital Market Growth Rates in South Africa, 2001-06 327 $a5. Notional Amount of the Exchange-Traded Derivatives in South Africa 6. Rankings in Ease of Doing Business, Protecting Investors, and Enforcing Contracts in Selected Sub-Saharan African Countries for 2008; IV. Current Issues Affecting the Future of the Market; V. Lessons for Countries of Sub-Saharan Africa from South Africa's Experience; VI. Conclusion; References; Footnotes 330 3 $aThis paper examines the role of the derivatives market in South Africa and provides policy options for promoting the development of derivatives markets in sub-Saharan Africa. South Africa's derivatives market has grown rapidly in recent years, supporting capital inflows and helping market participants to price, unbundle and transfer risk. There are tight regulations on asset allocations by insurance and pension funds to prevent excessive risk taking. The development of derivatives markets in sub-Saharan African countries could enable market participants to self-insure against volatile capital flows. Theiroverdependence on bank credit as a source of funding could be reduced and their management of seasonal risk could be improved through the introduction of commodity futures. However, these markets must be appropriately regulated and supervised. Since such markets would likely be small, consideration should be given to the establishment of a regional derivatives market. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/196 606 $aDerivative securities$zSouth Africa 606 $aRisk management$zSouth Africa 606 $aFinance: General$2imf 606 $aInvestments: Futures$2imf 606 $aInvestments: Options$2imf 606 $aForeign Exchange$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aContingent Pricing$2imf 606 $aFutures Pricing$2imf 606 $aoption pricing$2imf 606 $aPension Funds$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aFinancial Instruments$2imf 606 $aInstitutional Investors$2imf 606 $aFinance$2imf 606 $aDerivative markets$2imf 606 $aFutures$2imf 606 $aOptions$2imf 606 $aFutures markets$2imf 606 $aOver-the-counter markets$2imf 606 $aFinancial markets$2imf 606 $aFinancial institutions$2imf 606 $aDerivative securities$2imf 606 $aFinancial instruments$2imf 607 $aSouth Africa$2imf 615 0$aDerivative securities 615 0$aRisk management 615 7$aFinance: General 615 7$aInvestments: Futures 615 7$aInvestments: Options 615 7$aForeign Exchange 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aContingent Pricing 615 7$aFutures Pricing 615 7$aoption pricing 615 7$aPension Funds 615 7$aNon-bank Financial Institutions 615 7$aFinancial Instruments 615 7$aInstitutional Investors 615 7$aFinance 615 7$aDerivative markets 615 7$aFutures 615 7$aOptions 615 7$aFutures markets 615 7$aOver-the-counter markets 615 7$aFinancial markets 615 7$aFinancial institutions 615 7$aDerivative securities 615 7$aFinancial instruments 676 $a332.63 676 $a332.63228 700 $aAdelegan$b Olatundun Janet$01509588 712 02$aInternational Monetary Fund.$bMonetary and Capital Markets Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788227703321 996 $aThe Derivatives Market in South Africa$93741581 997 $aUNINA