Buy-back auctions will be conducted on the Bloomberg Auction System, unless otherwise stipulated by the SARB.
Bids must be submitted in minimum amounts of R1 million and multiples thereof.
Bids must be submitted to the nearest 0.005%.
Odd lots will be bought back within 24 hours of the auction closing time. Primary Dealers are requested to phone the SARB with these odd lots amounts.
The odd lots will be bought back at the weighted average yield of the auction for the particular stock. An odd lot is deemed to be any amount smaller than R1 million.
The odd lot amount will be settled on a T+2 basis if the odd lot is boughtback on the day following the auction, otherwise the trade is settled on a T+3 basis.
Phone : (012)315 5456 e-mail : phakamani.hadebe@treasury.gov.