We have spoken to the ZAR X Ceo
(01-30-2017, 01:35 PM)Outlook Wrote: Will Zar X be a listed exchange like the JSE?
Yes, ZAR X will list on their own market, but there there is no immediate details and will happen when the time is right.
(01-27-2017, 07:15 AM)Miss Behavin Wrote: Interesting to see in article that the ZAR X guys have launched a competition commission investigation against JSE; #fightingback
Wonder how that is going to pan out
Here is an update also an overview of how ZAR X will work and what they are going to offer.
Our market will work on a prefunded basis with all buyers and sellers that need to have either cash or securities in their account prior to trade. Matched trades settle and clear within 15 seconds or T +Real as we like to call it not T+3
All investors will have a free custody account held directly at STRATE which means all securities are held in electronic form and makes it much easier for a client to move their broking account from one broker to another but the custody account at STRATE remains yours at all times, one account number for life. This is intended to drive a better service culture with brokers instead of competing on brokerage rates which is a race to the bottom and not sustainable. In terms of the financial market Act (FMA) all investors must trade using a broker or market participant as ZAR X calls them.
On our market the stock exchange sets the brokerage rate at 1,5%. I know that its more than what some people may be paying on the face of it, but we charge all our fees based on percentiles and there is no R150 basic charge and there is no custody fee, which at the lower end of the market makes a big difference. Once we have been running for a while we undertake to review our fees and introduce a sliding fee scale.
We also intend launching an app which will let people trade from their phones. The development on the app began last year and thus far the functionality is still quite basic, he hope to add lots more functionality in the next few months.
Our first listings will be Senwes and Senwes Beleggings with BKB and TWK following shortly thereafter. We have been approached by two JSE listeds wanting to transfer their listings to us, but that is still early days.
We now await the judgement from the FSB appeal board to see what the outcome is.
The question nobody has been able to answer is to what extent are, the appellants in the matter, colluding and to what extent have the respective boards of directors sanctioned this particular action?
(01-30-2017, 01:02 PM)Noobly Wrote: @platinumwealth will you guys be showing their data on here as well?
We are speaking to them about their data and API so far so good, will keep everyone up to date, but in short yes come hell or high water they will be included on the forum.