General

Question 1

Who may propose additions/amendments to the rules?

Answer 1

Any member of the JSE Executive OR Director: Market Regulation may propose in writing any amendment to the derivatives rules or directives.

Question 2

The procedure that must be followed to have such additions or amendments?

Answer 2

• After the JSE executive or the Director Market Regulation proposes, the Rules Committee shall consider the proposed amendment and
• notify members by way of notice.
  If within ten days of the announcement of the JSE Executive’s decision to adopt the proposal, 5 or
  more members object in writing to the decision the objection together with the reasons for such
  objection will be referred to the controlling body for determination.
  The proposal will be submitted to the Registrar for his approval.
  Then the proposal will take effect immediately.

Question 3

In which cases the JSE will not be liable for losses.

Answer 3

• NEGLIGENCE , on the part of the JSE, the clearing house or on the part of any employee or agent of the
  JSE or the clearing house;
• any act of OMISSION on the part of any third party.
• incorrect, inaccurate, defective or MISLEADING INFORMATION FURNISHED or SUPPLIED BY THE JSE, the clearing house or any employee or agent of the JSE.
• EQUIPMENT BREAKDOWN or the breakdown, interruption, suspension, termination or failure of or defect IN ANY SYSTEM, including any trading system, or service owned or operated by or on behalf of the JSE.
• computer system MALFUNCTION, the interruption or failure of communications links, power failure, the failure of or defect in any software or hardware, whether owned by, licensed or leased to the JSE, the loss or destruction of any data and any loss or damage caused by natural disaster, riot, insurrection,
  acts of vandalism, sabotage or similar cause;
• the termination, of any licence or other agreement to which the JSE is a party.