A2X, challenger to the JSE, is going after more big fish after landing Sanlam
A2X is aiming to eat some of the JSE’s lunch by attracting brokerages with transacting costs about 50% lower than its giant rival
Since it started operating in October, A2X Markets’ biggest breakthrough for secondary listings came one Monday in April. That was when shares in Sanlam, the largest SA-based insurer, began trading on the fledgling bourse, adding to the R166bn company’s primary listing on the JSE. A2X CEO Kevin Brady is hoping more big fish will follow. "We aim to list as many companies as possible with a mix of Top 40, Top 100 and other companies," Brady, a former head of equity trading at Investec, said in an e-mailed response to questions. "We would like to get high single-digit market share within two to three years." A2X is aiming to eat some of the JSE’s lunch by attracting brokerages with transacting costs about 50% lower than its giant rival, while secondary listings come at no expense to companies that join the bourse. The exchange is also seeking a technological edge, using the same trading and surveillance technology as London’s independent Acquis Exchange.
That has led to eight lis...
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.