ZAR X says it is in advanced discussions with five companies interested in listing on the fledgling exchange, which was launched on Monday and settled its first trade in 10 seconds. The exchange is the first new entrant into a sector that has been dominated by the JSE for decades, and will compete with the incumbent for listings and investors. ZAR X was also in talks with restricted share schemes, such as broad-based black economic empowerment schemes, said CEO, Etienne Nel. The speed at which Monday’s sole trade — a buy order for 100 shares in agricultural group Senwes at R10.50 per share — was matched, settled and cleared demonstrated the effectiveness of ZAR X’s platform, Nel said. ZAR X used technology to create a more efficient financial market for investors and issuers, Nel said. "We are passionate about driving financial inclusion in SA’s capital markets." The exchange offered free real-time share data, such as stock prices and trades. The ZAR X publishing service (Zaps) the ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.