ACI Objectives

The principal objective of the association is to promote the common interest of the financial markets dealing profession between market participants.

  • Give understanding to uphold the ACI Model Code, the current ACI Charter and the ACI Statutes
  • Promote international co-operation within the framework of the financial markets dealing profession, develop the links of fellowship and loyalty between financial market dealers and continue to interact with our regulators and Central Bank.
  • Play an active role in the education of dealers with a view to establishing a creditation standard and developing the technical skills and knowledge of financial market dealers in Africa.
  • The association will not carry out any profit making activities; or participate in any business, profession or occupation undertaken by any of its members, or provide any financial assistance, premises, continuous services or facilities to its members for the purpose of carrying on any business, profession or occupation by them.

Agenda & Issues

DECLARATION OF THE 27th DAY OF DEC 2011 AS A PUBLIC HOLIDAY IN THE REPUBLIC OF SOUTH AFRICA

ACI South Africa would like to draw the attention of all members to the SARB’s directive on newly declared holiday  http://www.thepresidency.gov.za/pebble.asp?relid=5486

Specifically, your attention is drawn to the highlighted section related to Foreign Exchange contracts.  This is in accordance with the Model Code of ACI Global.

DECLARATION OF THE 27th DAY OF DEC 2011 AS A PUBLIC HOLIDAY IN THE REPUBLIC OF SOUTH AFRICA

The President of the Republic of South Africa has declared the 27th Day of Dec 2011 as a public holiday.

The South African Reserve Bank (Bank) supports the normal market practice of changing the value date for foreign exchange forward transactions maturing on 27th Dec 2011 to the next business day, 28 Dec 2011, with adjustments in the exchange rates – consensus from the major SA banks is 14bp adjustment.

The Bank, encourages authorised dealers in the foreign exchange market to enter into alternative bilateral arrangements with respect to such transactions.

 

 

FSB Announcement

The ACI dealing certificate was approved by the FSB for specific products from category one viz. 1.9, 1.13, 1.18, 2.7, 2.11, 2.16, 3.7, 3.11, 3.16
 
 
More info on this will follow

STATUTES – ACI SA
The Financial Markets Association

The Statutes for ACI SA have been uploaded. Read More.