South Africa’s securities exchange war goes to court

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.

JSE mixes exotic flavours in currency derivative trading

South Africa’s securities exchange, the JSE Ltd, is to launch a set of exotic currency products after demand from some South African banks. These derivatives give investors the advantages of listed derivatives but are as flexible as over-the-counter contracts.