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Since 1935, Imara S.P. Reid ("Imara Stockbroking, South Africa" and "Imara") has served a diverse client base with professionalism, competence and integrity.


The products and services offered by Imara Stockbroking South Africa ranges from traditional trade execution to full service stockbroking in local equities, derivatives and fixed interest instruments.

Mainstream brokerage is augmented by value added services including research by an award winning team, portfolio management for individuals and a fully integrated internet service which includes real-time information, charting and online trading.

Please use one of the links below for specific information on each area:

 

Equities

As a member of the JSE Securities Exchange of South Africa, Imara is approved to trade in and manage share investments on behalf of individuals and institutions. With more than 30 dealers focused on different markets and products, Imara's team has the expertise to assist you in every area of the market.

Through its regional offices, Imara is able to provide expert investment management, research and trading services in most African markets.

Margin (Carry) Accounts

Imara will facilitate the operation of a Margin (also known as a Carry) Account for approved clients. Margin Accounts provide clients with a finance facility for the purchase of securities, thereby allowing them to gear up their exposure to the market or specific trading situations.

Asset Administration

A vital component of any broking operation is effective settlement and administration of your records. Imara's services include:

  • Management and holding of assets in a CSDP on behalf of trusts, corporate and individual clients
  • Administration of corporate actions on behalf of clients e.g. rights issues, share splits etc.
  • Estate Late Valuations
  • Corporate service ranging from interpretation of JSE rules to share repurchases and share incentive schemes

 

Derivatives

The derivatives market in South Africa was established in the early 1990s and its development since then has progressed at a rapid rate as the market has grown exponentially.

Imara is a financial derivatives member of the South African Futures Exchange and can execute and advise on trading in all index futures, single stock futures, warrants and options.

Index Futures

One of the most effective ways to manage exposure to the JSE is through Index Futures contracts. All Indices can be traded in real-time through Imara's online trading system. Due to its liquidity, the JSE ALSI is the most popular instrument for trading.

Single Stock Futures

One of the biggest developments on SAFEX over the past five years has been the trading of listed Single Stock Futures. Imara S.P. Reid was one of the early pioneers and remains a prominent player in this market. Single stock futures offer an investor exceptional versatility and efficiency compared to traditional equities and they can be used as leverage instruments to increase a participant's exposure to a share in the underlying market.

Imara has a dedicated derivatives team providing advice and discretionary running of Managed Futures Accounts.

For more information, please speak to your investment adviser at Imara or contact Cameron Horsfall on +27 11 550 6220.

 

Yield-X

In 2007, the JSE launched Yield-X to provide a regulated exchange for the trading of derivatives on fixed interest securities and currencies.

To date, currency trading has received most of the attention as Yield-X is the only legal exchange for the trading of Rand-denominated currency contracts by South African residents.

The exchange allows individuals, corporate and investment managers to speculate and hedge in futures contracts that reflect the movement of the Rand in US Dollars, British Pounds, the Euro and the Australian Dollar.

As a registered member of Yield-X, Imara can advise and transact for you in this exciting new market.

To open an account or enquire regarding pricing, please speak to your investment adviser at Imara or contact the Yield-X desk on +27 11 550 6251.

 

Fixed Income

Imara is able to source Fixed Income Government Stock and Corporate Stock as well as variable rate money market investments and short term deposits.

This important asset class is frequently overlooked by retail investors but it offers favourable risk vs. return attributes and has a place in any balanced portfolio.

Although the normal trading size (R1m nominal) for SA Bonds is often out of reach for the average investor, Imara is able to source smaller trades (in the region of R100 000) to meet the individual requirements of its clients.

For more information, please contact Justin Mackeurtan on +27 11 550 6215

 

Research

A dedicated team of analysts within Imara's investment strategy team is responsible for daily reviews of market developments. Their research, which is disseminated to clients directly via email and the Imara website, is concise and focuses on identifying new investment opportunities.

Imara distributes the following publications on a regular basis:

  • Market Snapshot:
    A concise daily release of technical observations in the market, trading ideas and summarised market information
  • Imara Buffalo and Imara Late Owl:
    Daily insights into company news, providing advice and recommendations
  • Imara Tech Trader:
    Focused on the needs of the trader and published adhoc when market opportunities present themselves. Includes technical analysis
  • Imara Stocks & Strategy:
    A monthly investment outlook including strategy, company analysis and longer term portfolio advice and recommendations

For more information, please contact Warwick Lucas on +27 11 550 6266

 

Online Service

Imara provides a comprehensive service online. This allows the firm's clients to keep track of market movements and their investments. The site features a research archive and provides access to JSE company news, share price charts and your investment portfolio. You can look up share prices (with only a 15 minute delay), set up watch lists and transact online.

If you would like to evaluate these services during a two month free trial, please register here as a guest user.

 

Managed Accounts

The culmination of Imara's research is the formulation of a best investment view for the management of discretionary client funds. Imara's investment process has been refined over many years and has proved effective in both bear and bull markets, delivering ultimately superior performance.

Discretionary Portfolio Management

A discretionary equity portfolio enables Imara to manage your portfolio in accordance with your investment objectives and risk profile.

Discretionary portfolios require a minimum investment of R250,000.

 

Managed Futures Accounts

Some clients that would like to participate in the retail derivatives market are unable to give their trading strategies and positions the required attention. For others, the theory and pricing of derivatives may be too complex or they lack the confidence to trade themselves.

For theses reasons, Imara has developed a derivatives trading model that can replicate a desired strategy across several accounts. Using this process, Imara is able to manage a discretionary futures account on your behalf.

These accounts will take on geared positions and clients should makes themselves aware of the risks associated with such instruments. To mitigate these risks, however, several controls, risk limits and trading rules have been put in place and are designed to ensure that risk is appropriately spread across different trading strategies and individual positions.

A minimum initial investment of R100,000 applies.

For more information, please contact Guy Algeo on +27 11 550 6229

 

Commodity Derivatives

In 2009 the JSE introduced Foreign Referenced Commodities, which were only tradable on the agricultural futures market. In 2010 the JSE subsequently created the Global Futures Market in order for Equity Derivatives Members to trade the non-agricultural commodities. This has allowed South African investors to trade international commodities without the exchange control restrictions or the counterparty risk associated with unregulated OTC trading.

Commodities that can be traded currently are Nymex West Texas Intermediate Oil (WTIO), Comex Gold, and Nymex Platinum. These will soon be expanded to include silver and copper.

Options are also available on these instruments so you may hedge your exposure in order to protect yourself from the downside risk while maintaining your exposure to the upside of your investments.

As a registered member of Safex, Imara can advise and transact for you in this market.

For more information, please speak to your investment adviser at Imara or contact the derivatives desk on +27 011 550 6251

 

International Derivatives

International derivatives allow investors to get exposure to price movements of internationally-listed shares without the exchange control restrictions or the expense of setting up foreign trading accounts.

IDX gives investors access to the biggest companies listed on the European and US markets. These are listed as Single Stock Futures (SSF) on the Safex, which allow investors to diversify offshore without using their offshore allowance. These instruments are also ideal for speculators who wish to make a profit from short-term movements in the underlying share.

As a registered member of Safex, Imara can advise and transact for you in this market.

For more information, please speak to your investment adviser at Imara or contact the derivatives desk on +27 011 550 6251