Court is the next battleground in a war between securities exchanges in South Africa. New exchange 4AX launched a High Court application to set aside both the decision of the FSB and its Appeals Board to grant a licence to new exchange ZAR X.
Trading is to start on South Africa’s new ZAR X securities exchange on 3 October. It gained a licence on 2 September and the first listings will be Senwes and Senwes Beleggings, with up to 5 listings planned for first week October.
South Africa’s second new exchange, which also got a licence according to the 2 September announcement by the Financial Services Board (FSB), is 4AX, also known as 4 Africa Exchange. It plans to trade securities that are currently traded over-the-counter (OTC) and to go live early in 2017.
Back to the “coffee shops” – exchanges’ new roles in information, bringing together market participants. Trend highlights today at the World Exchanges Congress 2016.
Momentum building ahead of the key event for the stock exchange community, the World Exchanges Congress, now in its 11th year and back in central London from 22-23 March.
Nigeria’s booming fixed interest and currency securities exchange FMDQ OTC Plc (“over-the-counter”) recorded market turnover of NGN93.9 trillion ($471.7 billion) for the 8 months to 31 August.