Introducing Bond Repo reporting and matching platform

Introducing Bond Repo reporting and matching platform

Granite CSD is launching it’s Bond reporting platform into the South African market.

The Fortress CSD platform will allow customers to manually capture bond repo transactions or electronically upload bigger volume transactions onto the platform.

Legal nature of Repos and sell/buy backs

Repos are widely used in capital markets financing transactions and is a key source of liquidity

In essence a repo is a bi-lateral agreement between the Lender (buyer) and Borrower (seller).

‘Repos’ can be viewed as the generic term for

  • >Repurchase Agreements, “classic repos” or ICMA repos
  • >Sell/buy backs

Global Master Repurchase Agreement or GMRA are commonly used to govern these transactions

A repo  is a loan secured against collateral

South Africa

Repo and sell/buy back transactions:

  • >Are not securities as defined in terms of section 1 of the FMA
  • >Are not regarded as a financial instrument for the purposes of the  FSRA
  • >Are not required to be reported to an exchange  as a financial instrument not classified as securities in terms of the FMA
  • >Not covered under the exchange Guarantee Fund

Our Model

The Fortress CSD platform is a web based solution

Access the front-end to manually capture repo transactions

File upload functionality to electronically report repos

SWIFT MT5XX reporting to be released in next phase Gives direct access to all trading parties to accurately match the repo transactions

What’s the cost

Granite CSD will only charge:

  • >A system access fee
  • >A trade reporting and matching fee
  • >No reporting and matching fees for Clients trading with exchange members

Who can report Repo transactions

Trading parties can:

Directly report onto the platform

Instruct their Administrators to report repos

Instruct their CSDP’s to report on their behalf

Instruct their Issuer Agent to report repos

What would I save in cost

  • >No exchange fees of R0.45 – R0.63 per million
  • >No CSD Ad Valorem fee of R0.53 per million (capped)

How to register

Contact Granite CSD Support Centre on and request an On-boarding Pack which includes a registration form and a list of document requirements

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