In the United States High Frequency Trading (HFT) is expected to account for about 48,5% of exchange trade volume in 2014. This percentage has dropped from HFT’s peak of 61% in 2009. In the UK, estimates are that HFT represents approximately 36% of UK stock market transactions.
This is a globally significant volume of trades.
There are only two grounds on which a bank that issues an on-demand guarantee can refuse to pay the amounts guaranteed, namely fraud or if the demand for payment does not comply with the requirements of the guarantee. Otherwise banks are required to honour the obligations they have assumed in terms of demand guarantees issued
The amended JSE debt listings requirements come into operation on 22 December 2014. They aim to bring the JSE debt listings requirements in line with the Financial Markets Act, 2012 that came into force in 2013.
The authority of the JSE, including its general powers over listing debt securities such as bonds and commercial paper,
In Regent Insurance v King’s Property Development the appeal court confirmed that when dealing with avoidance of a policy for material non-disclosure:
Proposed changes to the curatorship process will allow the transfer of all or a part of a bank’s business to another entity (this would be done as a transfer under s54 of the Banks Act).
When African Bank Investments Limited (ABIL) was placed under curatorship on 10 August 2014, it was announced that some of
Our global insurance practice has topped the Law 360 list of the 10 largest insurance practice groups in the world.
The English high court in Emirates Trading Agency LLC v Prime Mineral Exports Private Limited has now, hopefully, put an end to a debate in the English Courts on the enforceability of escalation clauses.
The dispute resolution clause required the parties to first seek to resolve any dispute by “friendly discussion” and, if there was
The South African government issued its debut $500 million sukuk in 2014. The sukuk was four times oversubscribed, highlighting the appetite for this product.
There have been a number of sovereign backed sukuks of this nature across the Muslim world and elsewhere, such as the UK, where the government issued its first sukuk in 2014.
Islamic finance transactions are based on Shariah (Islamic law).
For an Islamic finance structure to be Shariah compliant it cannot contain elements of riba (interest), gharar (uncertainty), maisir (gambling) or investment in prohibited industries such as alcohol, pork products, conventional finance and pornography.
Interest
Shariah deems money to have no intrinsic value – it is
The appeal court has reaffirmed that a credit provider can proceed and take judgment against a consumer who defaults on any obligation under a debt re-arrangement that was agreed between the consumer and the credit provider or ordered by a court. That is the plain meaning of section 88(3) of the National Credit Act (NCA).