![]() ![]() In addition to the time and cost-saving features of the ZAR X Stock Exchange, a unique innovation is free safe custody facilities for investors. The innovative technology enables investors to undertake trading via their mobile devices.Ī key-driver he said, was to foster the financial inclusion of lower income South Africans who have largely been excluded and to foster a savings culture. Read also: Disruption arrives in SAs share market ZARX to become second exchange We also make investing simpler and affordable for the public especially the lower income groups, Nel added. The ZAR X model is world leading and significantly reduces settlement risk as all transactions are pre-funded. The current timeframe is T5 or five days between matched trade and settlement and clearing into an investors account. Investors are able to trade securities across a state of the art technology platform that permits transactions to be executed on a T0 or same day settlement of trades, said ZAR X CEO Etienne Nel. The licence enables the company to operate a fully-fledged, independent stock exchange and provides an exciting alternative to companies that want to list their securities on a licensed exchange. March 30) that it has been granted a stock exchange licence by the Financial Service Board (FSB). ![]() ZAR X plans to facilitate listings of restricted share schemes, currently trading over-the-counter (OTC), which the FSB ruled were in contravention of capital markets regulations. Sign In Try BizNews Premium Menu Home News Africa Briefs Budget Energy SA Renewal Tech BizNewsRadio Opinion Business Unusual Interviews Leadership Mailbox Thought Leaders Undictated Investing Entrepreneur Global Citizen Global Investing SA Investing Wealth Advisors Wealth Building Light Health Motoring Rugby Sponsored Good Hope Premium SA grants first stock exchange licence in 100yrs ZARX to compete with JSE 30th March 2016 30th March 2016 by Alec Hogg From Reuters JOHANNESBURG, March 30 (Reuters) South Africa has issued its first stock exchange operating licence in more than 100 years, paving the way for a local company to compete with the Johannesburg Stock Exchange (JSE).ZAR X Stock Exchange said on Wednesday it would start operating in September after securing approval from the Financial Service Board (FSB).The bourse will be the second exchange after the more than a century old JSE, Africas biggest and most liquid stock market. (Visited 110 times, 4 visits today) Cyril Ramaphosa: The Audio Biography Listen to the story of Cyril Ramaphosas rise to presidential power, narrated by our very own Alec Hogg. ![]() Trading on the ZAR X Stock Exchange is expected to begin on September 1. ![]()
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