South Africa’s financial regulators plan to finalize new rules governing the over-the-counter (OTC) derivatives market by 2028, including requirements that many contracts be centrally cleared. The measures are intended to improve transparency and reduce risk in a market that supports hedging and other financial activities.
Bloomberg reports the regulators are working toward rules covering an OTC derivatives market estimated at $9.3 trillion. Moneyweb similarly says the country will finalize rules for an R150 trillion OTC derivatives market by 2028, targeting structural changes over the coming years. Both outlets frame the effort as part of broader regulatory work to strengthen oversight of OTC derivatives.
While the sources align on the overall goal and timeline, they differ in how they describe the market’s size and currency—reflecting different reporting methods and conversion assumptions. They also emphasize the same core rationale: centrally clearing OTC derivatives to make the market more transparent and to lower systemic risk.
