Regulatory Alerts2025-04-24
FSCA Communication 9 of 2025 (FM): ZARONIA First Initiative for Linear Derivatives
The Financial Sector Conduct Authority directs South African financial market participants and inter-dealer brokers to transition from JIBAR to ZARONIA as the primary benchmark for linear derivatives, effective 30 April 2025. Participants must update pricing models, risk management frameworks, and legal documentation to ensure technological compatibility with trading platforms and clearing houses. Early adoption and cross-sector collaboration are strongly encouraged to establish adequate liquidity and ensure a seamless market transition.
Share