The perks of Sygnia’s plan to list on lower-cost A2X
Sygnia CEO Magda Wierzycka says there’s no costs, risks or additional regulatory compliance burden
Disruptive asset manager Sygnia is to list on the A2X Markets stock exchange next Thursday. The company, which has positioned itself as the champion for low investment charges, said shares available on the A2X platform would enable its shareholders and stockbrokers to transact at a lower cost as end-to-end costs of transacting are lower on the A2X platform. Sygnia CEO Magda Wierzycka said there would be no costs, risks, or additional regulatory compliance burden for the company as a result of this listing and will function as a secondary listing. Its primary listing will remain with the JSE. Sygnia will also not issue any new shares when it lists on A2X. A2X, which began trading in October 2017, estimates if it took up 20% of market share, stockbrokers could save R200m a year and end-investors up to R1.4bn. A2X now has nine approved brokers and 11 companies listed on its platform. The exchange’s CEO, Kevin Brady, said the technology A2X uses allows for less transaction touch points ...
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