The Market Practitioners Group (MPG) Derivatives Workstream has issued recommendations for a "ZARONIA-First" initiative in the derivatives market. This initiative proposes a phased transition of trading conventions from the Johannesburg Interbank Average Rate (Jibar) to the South African Rand Overnight Index Average (ZARONIA).
The aim of this initiative is to facilitate a shift in market liquidity towards ZARONIA, which is expected to bring benefits for various market participants as they adapt to the new rate.
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