n Without Prejudice - Single stock futures - not for the faint-hearted : litigation

Volume 13, Issue 11
  • ISSN : 1681-178X



Absa Bank Ltd (Absa) recently succeeded in a dispute, which has assisted in clarifying the much debated concept of in terms of the JSE's Derivative Rules. The dispute was over a payment of approximately R1.6bn as a result of defaults by the holders of certain single-stock futures (SSF). Absa, as a clearing member to the Johannesburg Stock Exchange (JSE), made the payment to Nedbank during December 2008.

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