A2X Markets, one of four exchanges to have launched in SA in the past two years, has won over another JSE-listed financial services company, Anchor Group, as it looks to build critical mass. Effective on July 10, Anchor will be the ninth firm to have a secondary listing on A2X. Anchor, headed by Peter Armitage, said on Tuesday it would retain its primary listing on the JSE’s AltX exchange, and that its issued share capital would be unaffected by its secondary listing. Armitage said A2X would help to lower trading costs for investors. Anchor’s shares, which reached highs of more than R18 in late 2015 but have since slipped to R3.50, will be tradable on both the JSE and A2X from next Tuesday. While Anchor’s secondary listing was unlikely to have a meaningful effect on the group in the short term, "if you take a medium-term view, it just gives brokers more options and it supports free market principles", Armitage said. "There’s no downside or cost for us. It’s nothing for or against th...
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