FTSE Term ZARONIA

Forward looking term rate for the South African market - Prototype

Request Details
  1. Overview
  2. Data access
  3. Access Rates
  4. Key resources
  5. Why Choose FTSE
  6. Related Content
Request Details

The Johannesburg Interbank Average Rate (JIBAR) is due to cease at the end of the year as part of South Africa’s transition toward more robust reference rates. In response, FTSE Russell is developing FTSE Term ZARONIA, a forward‑looking term reference rate based on the South African Overnight Index Average (ZARONIA), to support continuity for market use cases.

FTSE Term ZARONIA will feature rates across commonly used maturities, offering market participants a familiar structure while referencing ZARONIA as the underlying risk free rate. The benchmark is designed to support a smooth transition away from JIBAR, maintaining clarity in pricing, valuation and risk management as the South African interest rate landscape evolves.

Provisionally endorsed methodology for the South African market

The Market Practitioners Group (MPG) announced the appointment of FTSE Russell as the administrator of the forward-looking ZARONIA term reference rate (Term ZARONIA) and provisionally endorsed FTSE Russell’s proposed benchmark calculation methodology for its development.

Prototype now available

FTSE Russell is pleased to have developed a FTSE Term ZARONIA prototype for user testing. The prototype is not intended for production purposes.

The prototype is another step forward in finalizing the rate benchmark offering aiming to launch in 2026 subject to market liquidity.

useful links

Data access

RIC codes:

  • FTSE Term ZARONIA all tenors: ZARTRR=RFTB
  • FTSE Term ZARONIA 1-month: ZARTRR1M=RFTB
  • FTSE Term ZARONIA 3-month: ZARTRR3M=RFTB
  • FTSE Term ZARONIA 6-month: ZARTRR6M=RFTB
  • FTSE Term ZARONIA 12-month: ZARTRR1Y=RFTB
Data and feeds

Accessing rates data
Benchmark data is made available on LSEG Data & Analytics platforms, through direct data feeds and APIs and is widely available through other third-party market data vendors and authorised redistributors.
 

Discover new possibilities

Access Rates

Complete this form to access the rates.

By submitting this form, you agree to your personal data being shared within the London Stock Exchange Group of companies (LSEG) for the purpose of receiving communications via post, phone and electronic means from LSEG about event, resources, products, and/or services.

For more information on how LSEG uses your data, see our privacy statement. You can adjust your preferences at any time through the preference link in any electronic communication that you receive from us.

Key Resources

Interest Rate Benchmarks

Why choose FTSE Russell Benchmark Rates

Robust governance

Clear oversight, transparent methodology, and strong benchmark controls.

Global expertise

Built on deep experience delivering regulated benchmarks across interest rate markets.

Regulatory alignment

Developed to support evolving regulatory expectations.

Related Content

Benchmarks

Interest rate benchmarks

Central banks, national regulators and local authorities around the world look to us as the pre-eminent provider of benchmark services.

Benchmarks

FTSE USD IBOR Cash Fallbacks

Our USD IBOR Cash Fallbacks provide the Alternative Reference Rates Committee’s (ARRC) recommended fallback rates.

Benchmarks

FTSE Term €STR

A forward-looking, risk-free reference rate for euros

Request details

By submitting this form, you agree to your personal data being shared within the London Stock Exchange Group of companies (LSEG) for the purpose of receiving communications via post, phone and electronic means from LSEG about event, resources, products, and/or services.

For more information on how LSEG uses your data, see our privacy statement. You can adjust your preferences at any time through the preference link in any electronic communication that you receive from us.