4AX, a recently licensed stock exchange, says it hopes to begin trading in April and it has six listings in the pipeline. "What we have here will be a game changer for our country and a catalyst for transformation. We are hoping to offer an alternative platform that targets retail and institutional investors," said 4AX CEO Fay Mukaddam. Together with ZAR X, 4AX was granted a licence on August 31 2016 by the Financial Services Board’s (FSB’s) registrar for securities services. The new stock exchanges are the first to enter a market dominated by the JSE for at least half a century. 4AX would list a range of asset classes, such as equities, debt and special purpose vehicles, said Mukaddam. Most of the listings in its pipeline were equities, but some fell into other asset classes. It had also teamed up with the Gauteng provincial government to look at listing small and medium-sized businesses, such as township entrepreneurs, Mukaddam said. This would give these businesses access to addi...

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