The volume of products sold and the issuance in the South African market during the second quarter of the year dropped when compared with the first quarter of 2015. There were five more products issued in the second quarter of this year against the same period of 2014, with the addition of three new products and a volume of ZAR59m ($6m). In the second quarter, we saw the firs products using ladder as a payoff since 2013. The popularity of medium-term products continued, with almost all product

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