A2X aims for index trackers
Permission sought to list exchange-traded products
A2X Markets looks set to become an even bigger threat to the JSE as it trains its sights on the bourse’s R83bn exchange-traded products (ETP) market. The challenger exchange — which in April listed one of the country’s largest companies, Sanlam — has applied to Financial Services Conduct Authority to amend its licence to enable it to offer secondary listings to exchange-traded funds (ETF) and exchange-traded notes (ETN). This process was in the public comment phase and A2X hoped to offer a secondary listings platform to ETPs in the coming months, CEO Kevin Brady said on Tuesday. This comes after Sanlam got a secondary listing on A2X in April, delivering a fivefold increase to the start-up exchange’s market value. It now has a market capitalisation in excess of R200bn. This is still a fraction of the JSE’s R11.8-trillion valuation, but many times the size of newer rivals. A2X Markets is one of four exchanges to launch in SA in the past 18 months, ending the JSE’s decades-long reign a...
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.