ZAR X: What will South Africa's second stock exchange do differently and who will it target?

Etienne Nel, Co-Founder and CEO of South Africa’s soon-to-be second stock exchange, ZAR X

Last week Wednesday South African company ZAR X announced that it had been granted a conditional stock exchange licence by the Financial Service Board (FSB).

The licence, which took around a year to attain, allows ZAR X to launch South Africa’s second independent stock exchange and provides both investors and companies an alternative to the well-entrenched Johannesburg Stock Exchange (JSE) – which has monopolised the market for decades.   

If all goes according to plan, trading on the ZAR X Stock Exchange will begin on 1 September.

According to one of the founders, Etienne Nel – a stockbroker who also set up the over-the-counter (OTC) trading platform Equity Express – there is a “dire need” for an alternative exchange, especially one that targets lower-income investors previously marginalised in the market.

Read more: What will South Africa’s second stock exchange do differently and who will it target?

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