Newly licensed stock exchange ZAR X will list a number of companies in quick succession now that it has obtained regulatory certainty, says CEO Etienne Nel. It would offer investors free investment accounts with wholesale interest rates and free real-time share data, such as stock prices and share trades, on its website, he said. Agricultural companies Senwes and Senwes Beleggings would list by the end of February. Nel was speaking on Friday after the appeal board of the Financial Services Board (FSB) dismissed with costs two separate but consolidated appeals by the JSE and 4 Africa Exchange (4AX) against an exchange licence for ZAR X. The registrar granted both ZAR X and 4AX exchange licences on August 31 last year. The JSE and 4AX submitted that neither ZAR X nor the registrar of security services complied with the Financial Markets Act, which is intended among other things to ensure financial markets are fair and promote investor protection. However, Judge LTC Harms, deputy chair...
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.