The Financial Services Board (FSB) recently granted a new player an exchange service licence, essentially competing with the 130-year-old Johannesburg Stock Exchange (JSE). Newsclip’s latest research report looks at the possible reasoning for a second stock exchange and clarifies the intent of the new stock platform.
The Johannesburg Stock Exchange (JSE) is the largest stock exchange on the African continent and the 19th largest in the world. Since its foundation in 1887, it held a monopoly, being the only stock exchange in South Africa. This changed on Wednesday, 30 March 2016 with the announcement that the Financial Services Board (FSB) had granted a stock exchange licence to ZAR X, a new company incorporated for the primary objective of operating and managing a market infrastructure.
ZAR X promises to provide a “low-cost, simple and convenient trading platform that empowers ordinary South Africans with shareholdership opportunities”.
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