Through its participation in the Foreign Exchange subcommittee of the Financial Markets Liaison Group (FMLG), the ACI played a constructive role in ensuring that we could complete the project around the South African Rand Fixing page, which is now being published on the JSE website. Publishing it on third-party systems such as Bloomberg and Reuters is still work in progress.
Moreover, a stronger banking system is expected to have a positive impact on market confidence, reducing thus the volatility in financial markets. Addressing the SIFI problem I would also like to mention some developments that are not included in Basel III but that are high on the international agenda of financial policy makers.