How will ZAR X, 4AX and A2X Markets differentiate themselves from the JSE?
A big question for investors is how the three stock-exchange newcomers — ZAR X, 4 Africa Exchange (4AX) and A2X Markets (A2X) — intend to differentiate themselves from the incumbent monopoly, the JSE. SA lags its fellow Brics members Brazil, China, Russia and India in that it does not offer exchanges particularly focused on securities other than equities, such as fixed-interest rate products, currencies, commodities and derivatives. According to the Bank for International Settlement, while emerging-market stocks tend to be more volatile than those of developed markets — creating an exciting environment for speculators — derivatives trading tends to be far lower than in similarly sized developed markets. But the three newcomers said their initial priority would be traditional equities trading, with adding other types of securities a long term goal. ZAR X head of listings Graeme Wellsted said the initial goal is to offer a more affordable equities trading platform than the JSE for com...
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.