INFORMATION DISSEMINATION WORKSHOP

1
INFORMATION DISSEMINATIONWORKSHOP

• 7 MARCH 2003

2
AGENDA

• Eod Clean Up
• Proposed JSE Release Dates
• Changes To Sens End Of Day
• Earnings Project
• Jse Data Audits And Data Audit Guideline
• Webhosting Data Policy
• Safex Billing

3
AGENDA (CONT)

• Talx Users Reporting
• Tracking Tradeable Contract Licences
• New Indices
• Alternative Exchange

4
END OF DAY CLEAN UP EQUITY DISSEMINATION

• Feedback Received From All Clients
• OUTCOME
• All quarterly and Annual Records Deleted
• Annual Records Generated Daily Remain
• No Fillers Used
• Separate Specifications For Equities And Indices
  Record Types

5
END OF DAY CLEAN UP - EQUITY DISSEMINATION
(CONT)

• INDICES MANUAL CONSISTS OF
• 1st Section FTSE / JSE Africa Index Series
• - (Core Indices )
• - 2nd Section ( Value added record types)
• - New Section for new indices
• Test Files Available This Week As At
• 28 February 2003.
• Feedback By 21 March 2003

6
END OF DAY CLEAN UP - EQUITY DISSEMINATION
(CONT)

• WARRANTS CHANGE GOING LIVE 23 JUNE 2003
• Increased Underlying code From 4 To 6
  characters
• Catering For Up To 100 Security Values for Basket
  Warrants
• ISIN Field Introduced.

7
PROPOSED JSE RELEASE DATES

• 10 March
• 14 April
• 23 June
• No July Or August At Present
• September (Date To Be Confirmed)

8
SENS END OF DAY CHANGES

• New Header Record - Layout To Be Provided
  Shortly
• Live Data - September 2003

9
EARNINGS PROJECT

• Obtained feedback from the market
• Technical Analysis In Progress - Due End March
  2003
• Beginning - April Advise To Clients On Impact
• Decision On Implementation date after
  consultation with clients

10
JSE DATA AUDITS

• GENERAL OUTCOMES
• Attention to tracking system permission
• Consultation with the JSE prior to Embarking on
  new product / ventures using JSE data.
• Internal use of live data is limited to Agreed
  numbers by the JSE.

11
JSE DATA AUDITS - (CONT)

• Branding of a product consideration is crucial
• Readiness of auditors
• Trails For Live Data - (Before 15th Of Each Month
  after 15th of each month principle)
• GROUP COMPANY LICENCES
• Verification of holding by The Group Company
  Secretary
• Central Tracking / Permission
• Separate feeds attract separate fees

12
JSE DATA AUDITS - (CONT)

• 4 Audits Conducted - November / December 2002
• Process in a Data Audit - Draft Audit Guidelines
  for comment by.

13
WEBHOSTING DATA POLICY

• Parties hosting websites on behalf of listed
  companies (i.e investor relations sites)
• JSE delayed data only No live data permitted
  unless in a controlled environment
• Licensed vendor must be able to control the data
  sent to the website at all times.

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WEBHOSTING DATA POLICY

• 2 Types of licences
• Single share ticker R600 p.m ( excl VAT)
• (1 website /1licence)
• Webhosting level 1 R2239 pm (excl VAT)

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WEBHOSTING OPTIONS

• OPTION 1
• Client Branding only
• Client pays full delayed licence
• Irrespective of hosted or not
• No vendor logo required Information supplied
  by .. is sufficient
• OPTION 2
• Dual branding - clients and vendor
• Clients pays half of the licence
• i.e Webhosting Level 1 Licence
• Irrespective of whether hosted or not

16
WEBHOSTING OPTIONS (cont)

• OPTION 3
• No Client Branding
• Front page states share prices or Market
  clicks through the vendor site , Vendor framing
  to tally.
• No licence pail by the client
• No labeling required on the front website page.

17
SAFEX BILLING

• SAFEX data billing consolidated under JSE billing
• Consolidated invoices
• Consolidated reporting
• Effective 1 September 2002
• Currently reviewing data policies for SAFEX

18
TALX USERS

• All members using TALX
• Currently no reporting done to Data Services
• Reporting this year to be done on ENDF
  effective date to be confirmed
• All JIDA conditions apply
• Billing will be intemised on the invoice -
  Level 1 and / or Indices

19
TRACKING AND TRADEABLE CONTRACT LICENCES

• Tradeable Contract licence became effective 1
  January 2003
• FTSE / JSE Africa Index Series Financial Product
  Agreement (FIPLA) posted out to all relevant
  parties
• Parties writing OTC or listed products on the
  indices.
• Parties with ETFs written on the indices
• Parties with retail or institutional tracking
  funds written on the indices

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TRACKING AND TRADEABLE CONTRACT LECENCES (CONT)

• Pricing for retail institutional funds has
  been finalised signed off by the industry
• Payable quarterly in arrears.
• RETAIL TRACKING FUNDS
• .25 basis point of Net Asset Value of fund
• NAV due by 15th of each quarter (March / June /
  September / December )

21
TRACKING AND TRADEABLE CONTRACT LECENCES (CONT)

• INSTITUTIONAL TRACKING FUNDS
• Sliding scale based on the value of the fund ,
  but an annual fixed fee.
• Example
• Up to 500 Million R50000 p.a
• 500 Million 1 Billion R60000 p.a
• 1 Billion 2 Billion R70000 p.a
• ( full sliding scale in the price list)

22
NEW INDICES

• FTSE / JSE Capped All Share and Top 40 indices
• FTSE / JSE Shareholder Weighted All Share and Top
  40 indices
• CAPPED INDICES
• Mathematical process where the weighting of any
  constituent lager than 10 , will be reduces to
  10 on a quarterly basis

23
NEW INDICES (CONT)

• SHAREHOLDER WEIGHTED INDICES
• Using the share register to reduce constituent
  weights by foreign shareholdings , in addition to
  adjustments made for cross holding strategic
  holdings

24
DATA FILES IMPLICATION

• Separate files for the 2 groups of indices
• i.e Capped and Share Weighted .
• Specification available on (www.ftsejse.co.za)
• under Series Overview.
• Fields affected by the 2 methodologies
• are highlighted in bold for ease of reference.

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IMPLEMENTATION PLAN

• Feb 2003 - Capped Indices Indicative values
  on the FTSE / JSE website
• March 2003 - Test files for the Capped
  Indices.
• April 2003 - Share weighted indicative
  prices on the website
• 14 April 2003 - All end of day files ready for
• distribution to clients

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IMPLEMENTATION PLAN (CONT)

• 9 May 2003 - Feedback on the files as well
  as subscription requirements
• 1 July 2003 - Official live date to be
  market

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PRICING

• R3000 per index group (i.e Capped All share Top
  40) per company .
• ( Applicable to Designated End User)
• No additional licence fees to vendors already
  subscribing to Core indices Valuation ,
  Constituents and Tracker .
• No additional fees to Print Media Licensed.

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PRICING (CONT)

• Only Licensed Designated End User of the core
  FTSE / JSE Africa Index Series will qualify for
  the above fee in relation to the new indices.
• If an end user does not have a licence for the
  core indices , they will not be permissioned for
  the new indices , unless they review their core
  index licence.

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AGREEMENTS

• Schedule in FIDA will be revised and re issued
  to reflect additional subscription to the new
  indices
• By the end of June we require signed schedules.