JSE Brokerage Operations study plan

Map the JSE regulatory hierarchy: FMA/FAIS/Financial Markets Act obligations versus JSE Rules and Directives, and identify which body enforces each

List the JSE membership categories and the capital adequacy, guarantee fund, and reporting duties attached to each

Explain the trade lifecycle from order receipt to settlement in JSE equities and derivatives, naming the role of each intermediary

Draft a one-page summary of the rules governing client order priority, best execution, and record retention

Interpret the JSE Rules on order handling: client versus principal trading, crossing, odd lots, and error trade reporting

Apply the market abuse provisions of the Financial Markets Act to insider trading and manipulation scenarios

Describe how the JSE Equities Trading and Derivatives Trading rules differ on order types, price limits, and halt procedures

Write out the escalation path and timing obligations for a suspected market abuse report

Trace an equity order through validation, routing, matching, and trade confirmation, identifying where each control sits

Compare order types and time-in-force instructions and select the appropriate one for given client instructions

Explain allocation, average pricing, and give-up procedures and the record-keeping each requires

Diagnose common trade breaks and describe the correction process within the JSE framework

Explain the roles of Strate, JSE Clear, and the JSE as CSD, CCP, and exchange, and how they interact on T+3 settlement

Describe the settlement cycle for equities and the margin and collateral process for derivatives clearing

Identify the causes of settlement failure and the buy-in and penalty process that follows

Outline the reconciliation between broker records, Strate, and the CSD on a settlement date

Apply FICA requirements to client onboarding: identification, verification, beneficial ownership, and risk rating

Distinguish individual, corporate, trust, and minor account documentation and the mandates each needs

Describe ongoing due diligence, sanctions screening, and suspicious transaction reporting to the FIC

Explain account opening controls, mandate changes, and the record-keeping period for client files

Process a cash dividend entitlement from record date through payment, applying withholding tax and the ex-dividend convention

Handle a rights issue and a capitalisation issue, calculating the entitlement and the client election process

Describe the handling of a share consolidation, a scheme of arrangement, and a delisting for affected client holdings

Reconcile a corporate action entitlement against the CSD notification and resolve a shortfall

Apply the client money segregation rules to a mixed client and proprietary account and identify prohibited uses

Perform a three-way reconciliation between bank, client ledger, and custody positions and document the break resolution

Design internal controls covering segregation, sign-off, access, and exception reporting, and state the escalation trigger for each

Explain the treatment of unclaimed client money and the reporting duties to the regulator

Apply the conduct standards on conflicts of interest, inducements, and fair treatment of clients to three ethical dilemmas

Summarise the market integrity duties of a broker and the personal consequences of breaching them

Consolidate weak areas from weeks 1 to 7 into a targeted revision list and close each gap

Complete two full timed mock exams under exam conditions and review every wrong answer