A NEW stock exchange entrant begins operations in SA in October. This is momentous news as there has only been one local exchange for over 100 years. A new alternative, with a new business model, is a major boon to the markets sector.With the issue of a full stock exchange licence on August 31, the new exchange, ZAR X, has now cleared all regulatory hurdles and won final approval from the Financial Service Board (FSB). It offers something new to corporates and the investing public including a world-leading feature — T+0, or real-time trade settlement.The opening of the first new stock exchange in more than a century may be a landmark event, but the creation of wider securities trading choice is hardly unique. Most western economies have multiple exchanges — Australia has two main exchanges, India has multiple exchanges and Canada opened another new exchange in 2015. Historically, SA had multiple exchanges in the late 19th century.ZAR X motivated its submission to the FSB on the grou...
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