21 September 2017
Reporter: Drew Nicol

Pirum joins South African securities lending association

Pirum Systems has joined the South African Securities Lending Association (SASLA).

In a statement on the new membership, Pirum said: “Pirum is delighted to be able to confirm our membership of SALSA.”

“We recognise that connectivity and global reach are key to our customers. We continually strive to enhance our established global footprint and support new markets as they develop.”

SALSA is chaired by Juanita Taylor, head of securities lending for Standard Bank of South Africa, who presides over an 10-strong executive committee of representatives of the South African.

The association currently boasts more than 30 members including the Johannesburg Stock Exchange, HSBC and J.P. Morgan.

SASLA’s mandate outlines its aims to promoting the concept and understanding of securities lending and borrowing to the public at large, SASLA focuses itself on many detailed aspects of the product throughout Southern Africa.

Members are able to contribute to any of SASLA’s working groups assessing specific issues in the market, and have prior access to any information prior to it appearing in the public domain.

SASLA also works in partnership with the International Securities Lending Association based in London.

Commenting on Pirum's membership, Taylor said: "SASLA welcomes the experience and product knowledge that an international service provider, like Pirum, will bring to the association."

"SASLA currently has over 30 members consisting of service providers, banks, financial institutions, brokers, fund managers and other market participants."

"As such, we are always excited at the prospect of expanding our knowledge and expertise when high calibre members, such as Pirum, join the association."

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