A2X, a stock exchange licence applicant, has become the third South African company to have its application elevated to public comment stage by the Financial Services Board (FSB).This means all interested parties who have objections to the A2X application can now lodge their comments with the Registrar of Securities Services by March 19.The other applicants that have reached the public comment stage are 4 Africa Exchange and ZARX."We are very happy to be at the next stage of the licensing application process, which is public comment," A2X CEO Kevin Brady said."Our application wasn’t the model the regulator expected. All credit to the regulator, it did a proper due diligence. On the back of our application, it set up meetings with overseas regulators."Mr Brady said most of the applications related to bringing issuers on the over-the-counter market into the regulatory net whereas A2X had a different model, based on the European multilateral trading facility model.There was a similar m...

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