A2X

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A2X Markets
Founded 2016
Key People Kevin Brady, CEO

A2X is South Africa’s newest stock exchange, which made its debut on October 6, 2017 with three listings and four brokers on board.[1] The exchange will be styled on the European Multilateral Trading Facility model and will clear all trades executed on it using Strate as its central securities depository.

A2X is partnering with Aquis Exchange (Aquis) from whom it is licensing matching engine, surveillance and clearing technology. The exchange competes directly with the JSE and provides an alternative platform for companies to secondary list and trade their shares. A2X plans to target the 50 to 65 largest JSE-listed counters via a secondary-listing model.[2]

The first companies to make a secondary listing on the exchange are three financial services companies, African Rainbow Capital Investments (AIL), Peregrine Holdings (PGR) and Coronation Fund Managers (CML). RMB Morgan Stanley, Peregrine Securities, Investec Securities and Avior Capital Markets have been approved as brokers, and Nedbank Securities, SBG Securities and Sinayo Securities have applied and plan to follow shortly.[3]

History

A license for the exchange was issued by the South African Financial Services Board.

Products and Services

Key People

References

  1. Three JSE-listed firms use the new A2X as secondary listing, on first day of trade. BusinessDay.
  2. Trio brings X-factor to SA’s exchange arena. BusinessDay.
  3. A2X, SA’s new stock exchange, opens with three secondary listings and four leading brokers. Africa Business Communities.