Consultation on market conventions for ZARONIA-linked cash market instruments
Last Modified Date:
2023-09-28, 08:56 AM
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The Market Practitioners Group (MPG) has published three consultation papers on market conventions for cash market products that will use the South African Rand Overnight Index Average (ZARONIA) as an alternative reference rate. The South African Reserve Bank (SARB) started publishing ZARONIA on its website on 1 November 2022 to allow market participants to observe the rate before it is formally endorsed for use in financial products.