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About us
Ned Settle Services (NSS) was granted membership to the JSE in May 2014 as a CSP member. This licencing process saw NSS demonstrate appropriate segregation of functions and adhering to all JSE requirements. Client confidentiality is addressed within staff employment contracts as well as adherence to Nedbank’s internal policies regarding client confidentiality. NSS is prepared to sign specific Non-Disclosure Agreements (NDA) for stockbroking firms, if required.
NSS is a 100% subsidiary of Nedbank Group Ltd and forms part of Corporate Shared Services within NCIB. Regulation of NSS falls under the ambit of the JSE.
Corporate Actions involves the processing of mandatory, elective and proxy events.
- Inform relevant parties of cut off times for instructions
- Ensure all instructions are received for voluntary corporate events
- Send all instructions to the CSDP for processing
- Update BDA with relevant instructions
Trade support involves the end-of-day allocations for the Equity Market
- Equity allocations on either real time basis or after the Auction close out period
- CFD allocations
- CTM trade matching
- Allocation of trades received on Perfix
- Alert SSI capability
- Follow up on all uncommitted positions
- Open non-controlled client accounts on BDA and liaise with the relevant CSDPs
- Ability to cater to the needs of international clients
We provide alternative settlement officer services, ensure trades are committed to and follow up where necessary.
- Send trade status updates
- Book all off market trades
- Obtain JSE approval where necessary
- Liaise with NIS to ensure all SLB trades are booked
- Balance SLB Positions
- Loans and Collateral Deposits.
- End of day balancing between CSDP and BDA
- Weekly balancing between lenders and BDA
- Processing of bond transfers
- Follow-up on unmatched trades
Finance involves the capturing of client related finance instructions and the processing of daily bank reconciliations.
- Processing of cash payments on BDA
- Processing of cash receipts on BDA
- Processing of journals on BDA
- Processing of cash payments on online banking platform
- We have stringent measures in place to ensure funds are paid to the correct client account and client details are verified. We also verify that the client has sufficient funds on BDA before we process a payment. Furthermore, there is segregation of duties between capturers and releasers to minimise risk.
- Perform all bank reconciliations
- Follow up on all long outstanding items on reconciliations
- Process certain entries off the back of recons – these are standing instructions where we move funds from one BDA account to another
- Reconcile BDA to the CSDP position on a daily basis
- Follow up on all un-reconciled items
- Send monthly BDA/CSDP reconciliation to the JSE
Corporate Actions involves the processing of mandatory, elective and proxy events.
- Inform relevant parties of cut off times for instructions
- Ensure all instructions are received for voluntary corporate events
- Send all instructions to the CSDP for processing
- Update BDA with relevant instructions
Trade support involves the end-of-day allocations for the Equity Market
- Equity allocations on either real time basis or after the Auction close out period
- CFD allocations
- CTM trade matching
- Allocation of trades received on Perfix
- Alert SSI capability
- Follow up on all uncommitted positions
- Open non-controlled client accounts on BDA and liaise with the relevant CSDPs
- Ability to cater to the needs of international clients
We provide alternative settlement officer services, ensure trades are committed to and follow up where necessary.
- Send trade status updates
- Book all off market trades
- Obtain JSE approval where necessary
- Liaise with NIS to ensure all SLB trades are booked
- Balance SLB Positions
- Loans and Collateral Deposits.
- End of day balancing between CSDP and BDA
- Weekly balancing between lenders and BDA
- Processing of bond transfers
- Follow-up on unmatched trades
Finance involves the capturing of client related finance instructions and the processing of daily bank reconciliations.
- Processing of cash payments on BDA
- Processing of cash receipts on BDA
- Processing of journals on BDA
- Processing of cash payments on online banking platform
- We have stringent measures in place to ensure funds are paid to the correct client account and client details are verified. We also verify that the client has sufficient funds on BDA before we process a payment. Furthermore, there is segregation of duties between capturers and releasers to minimise risk.
- Perform all bank reconciliations
- Follow up on all long outstanding items on reconciliations
- Process certain entries off the back of recons – these are standing instructions where we move funds from one BDA account to another
- Reconcile BDA to the CSDP position on a daily basis
- Follow up on all un-reconciled items
- Send monthly BDA/CSDP reconciliation to the JSE
Useful links & Contacts
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