A2X Aims for Greater JSE Market Share
A2X wants to increase the share of exchange trading activity on its platform to 20% or 25% in five years.
Challenger exchange A2X Markets says it is targeting the market share of the leading exchange like never before. In the five years of its existence, the secondary exchange backed by African Rainbow Capital has only managed to get a drop in the ocean of equity trading activity in South Africa. The Johannesburg Stock Exchange (JSE) still controls 99.7% of equity trading volumes in the country.
A2X CEO Kevin Brady said the fledgling exchange, on the other hand, has a 3% market share of the 88 companies listed on it. But he believes that is about to change.
He is confident that this and the reduced costs when accessing and trading on their platform will be enough to win over other investors and companies, and Brady has approached more JSE companies, trying to get them listed on A2X since resolving a dispute with the JSE over how to settle transactions. The number of stocks listed on A2X has risen from 69 in July to 88 now, with Waterfall City owner Attacq set to become the 89th listed on the exchange later this month.
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