BUSINESS MAVERICK: How are SA’s new stock exchanges doing?

X marks the spot with the local incumbent stock exchanges. ZARX, A2X and 4AX, and the one “non-x” EESE, are all reporting taking great strides underpinned by advances in technology over the past few years and calls for less risky and cheaper ways to access capital markets.Of the four new competitors, ZARX, A2X and 4AX, and BEE-focused Equity Express Securities Exchange , three have adopted a stand-alone exchange model and target a previously untapped issuer market.

Brady says 2019 has already proved to be a stellar year for the exchange, after ending off 2018 with a bang by bringing AVI, Standard Bank and Naspers’ secondary listings to market.It created a great base for our product,” he says, “and our turnover was five times that in March 2019 compared with December 2018.”

Back home A2X only holds 1% of the market, but Brady says it is still early days, and as it develops the market, it is targeting a stronghold of closer to 20% in the next three to five years.It is not just about eating the JSE’s lunch,” he adds. “We are looking at growing the overall market.” A2X cutting-edge technology platform allows it to dramatically reduce the cost of trading and with improved prices come greater liquidity and narrower spreads.

Fellow exchange ZARX has embraced a much wider scope from its induction three years ago this past March. It currently hosts the primary security listings for Senwes and TWK Investments, and CEO and co-founder Etienne Nel says they have interesting companies in the pipeline looking to come to market in the food, property and renewable energy space. The company is also in talks with the banks in bringing asset-backed securities into play.

Nel also alludes to the online onboarding project they are working on now. He says it will be an electronic portal for issuers – a “listings in a box” feature, which will make it easier for issuers to come to market. “We don’t want to impose any additional requirements other than what the Companies Act prescribes,” he says. “We want to improve the user experience and ease the burden of listing and raising capital. The company will make an announcement in this regard in the next month or so.

Like the other alternative exchanges, the end goal for 4AX is to run a stock exchange that will become a vehicle for diversity and real economic inclusion – and ultimately drive transformative growth and development of South Africa, and Africa as their business grows and offerings grow, she says.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

BUSINESS MAVERICK: The curious duality of SA’s first business quarterThe Johannesburg Stock Exchange is up as the curtain closes on the first quarter of 2019, which will cheer the bruised bank accounts of SA’s investors. It’s been a rising quarter, but also, weirdly, a bit of a calamity. Welcome to the strange world of the JSE, circa 2019.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: Stocks Slide Again as Bond-Yield Drop Stokes Worry: Markets WrapStocks slumped again in Asia as the precipitous decline in developed-market sovereign bond yields continued to unnerve investors about the economic outlook.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: Moody’s stands pat and SA’s economy breaths a sigh of relief – for nowIt all depends if they are in a good moody, or a bad moody, said Rico’s cartoon in Friday. Turns out they were in a good moody. AngeloCoppolaSA
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: Moody’s stands pat and SA’s economy breathes a sigh of relief – for nowIt all depends if they are in a good moody, or a bad moody, said Rico’s cartoon in Friday. Turns out they were in a good moody.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

BUSINESS MAVERICK ANALYSIS: US Federal Reserve and a new normal for global monetary policyBUSINESS MAVERICK ANALYSIS: US Federal Reserve and a new normal for global monetary policy By Sharon Wood
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: U.K. Firms Least Likely to Invest in Eight Years as Brexit BitesInvestment intentions among U.K. firms slumped to the lowest in eight years, just one of the measures of economic health that weakened “considerably” amid recent Brexit turmoil, according to the British Chambers of Commerce.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: Woes of Africa’s Biggest Fund Manager Move Lawyer to VerseAccusations of dubious investment decisions and poor leadership at Africa’s biggest money manager have been staples of a long-running inquiry into the company’s dealings. But never in the form of poetry.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: Moody’s Hands S. Africa’s Ramaphosa Lifeline as Markets RallyIt was case of speaking softly and carrying a big stick. Moody’s Investors Service’s brief comment on South Africa’s credit rating sparked the rand’s strongest rally in five months on Monday and drove government bond yields to the lowest since May.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

Business Maverick: Tuesday April 2: Five Things You Need to Know to Start Your DayEurope is questioning Chinese trade in the wake of Xi’s visit, U.S. stocks rallied after stronger factory data out of China and the U.K. Parliament fails to find a Plan B for Brexit. Here are some of the things people in markets are talking about.
Fuente: dailymaverick - 🏆 3. / 84 Leer más »

BUSINESS MAVERICK ANALYSIS: Born free, taxed to deathTax rates have become a hot topic recently because of scandals surrounding former Head of South African Revenue Services Tom Moyane and suggestions of an imminent tax revolt by Western Cape premier Helen Zille. International comparisons show South Africa is highly taxed compared to other countries in the world – but how bad is it?
Fuente: dailymaverick - 🏆 3. / 84 Leer más »