{"id":119551,"date":"2016-04-09T15:00:51","date_gmt":"2016-04-09T13:00:51","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=119551"},"modified":"2016-04-08T17:30:11","modified_gmt":"2016-04-08T15:30:11","slug":"meet-south-africas-new-stock-exchange-zar-x","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/119551\/meet-south-africas-new-stock-exchange-zar-x\/","title":{"rendered":"Meet South Africa&#8217;s new stock exchange &#8211; ZAR X"},"content":{"rendered":"<p>ZAR X was granted a stock exchange licence by\u00a0the Financial Services Board in March, and is set to start trading on 1 September 2016.<\/p>\n<p>ZAR X promises a \u201clow-cost, simple, and convenient trading platform\u201d, which will allow South Africans to trade shares \u2013 even if they have never invested money or opened a bank account before.<\/p>\n<p>\u201cThe platform is designed to empower those who don\u2019t have skills or experience in investing to easily and safely build a brighter financial future for themselves,\u201d said ZAR X.<\/p>\n<p>The company said its\u00a0platform will give business enterprises a flexible, transparent, and affordable way to list their restricted or limited share offerings.<\/p>\n<h3 class=\"my-4\">ZAR X versus the JSE<\/h3>\n<p><a href=\"http:\/\/www.businessdaytv.co.za\/shows\/newsleader\/2016\/03\/30\/zar-x-granted-stock-exchange-license\" target=\"_blank\"><strong>ZAR X CEO Etienne Nel told BusinessDay TV<\/strong><\/a>\u00a0they will be a fully-fledged independent stock exchange, similar to the JSE.<\/p>\n<p>Nel said they do differ from the JSE, though, as their focus is\u00a0the restricted market and mid-sized capitalization type companies (R500-million to R5-billion companies).<\/p>\n<p>\u201cThe minute that you want to have complex listing requirements, lots of liquidity, and broad appeal, go to the JSE,\u201d said Nel.<\/p>\n<p>Nel said their initial focus will be on low-hanging fruit \u2013 the companies that the JSE cannot list, like the traditional over-the-counter market and the related shares around this market.<\/p>\n<p>He said an advantage is the ZAR X\u2019s T0 settlement model, where the transaction is settled and cleared instantly.<\/p>\n<p>\u201cIf you trade on the JSE today, your transaction will only be settled and cleared in five working days.\u201d<\/p>\n<p>He said their T0 settlement model is groundbreaking, and reduces settlement risk.<\/p>\n<p>\u201cOur market which we are offering is a real market. There is\u00a0no additional activity over and above standard trades. We have no derivatives or short selling.\u201d<\/p>\n<h3 class=\"my-4\">Technology companies interested in listing on ZAR X<\/h3>\n<p>Nel said they have eight companies which have committed to listing on ZAR X, and many others which have shown an interest in joining.<\/p>\n<p>ZAR X director Geoff Cook told MyBroadband that a number of technology companies have approached them to list on the exchange.<\/p>\n<p>Due to\u00a0confidentially clauses, the names of these companies cannot be disclosed.<\/p>\n<h3 class=\"my-4\">More on ZAR X<\/h3>\n<p><strong><a title=\"Permalink to Did you know that Cape Town once had a stock exchange?\" href=\"http:\/\/businesstech.co.za\/news\/general\/118702\/did-you-know-that-cape-town-once-had-a-stock-exchange\/\" rel=\"bookmark\">Did you know that Cape Town once had a stock exchange?<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ZAR X was granted a stock exchange licence by the Financial Services Board in March, and is set to start trading on 1 September 2016.<\/p>\n","protected":false},"author":31,"featured_media":119553,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26,10975],"class_list":["post-119551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","tag-headline","tag-zar-x"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/119551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=119551"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/119551\/revisions"}],"predecessor-version":[{"id":119555,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/119551\/revisions\/119555"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/119553"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=119551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=119551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=119551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}