ZAR X says it is in advanced discussions with five companies interested in listing on the fledgling exchange, which was launched on Monday and settled its first trade in 10 seconds. The exchange is the first new entrant into a sector that has been dominated by the JSE for decades, and will compete with the incumbent for listings and investors. ZAR X was also in talks with restricted share schemes, such as broad-based black economic empowerment schemes, said CEO, Etienne Nel. The speed at which Monday’s sole trade — a buy order for 100 shares in agricultural group Senwes at R10.50 per share — was matched, settled and cleared demonstrated the effectiveness of ZAR X’s platform, Nel said. ZAR X used technology to create a more efficient financial market for investors and issuers, Nel said. "We are passionate about driving financial inclusion in SA’s capital markets." The exchange offered free real-time share data, such as stock prices and trades. The ZAR X publishing service (Zaps) the ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.