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ZarX Stock Exchange
#61
"In terms of the financial market Act (FMA) all investors must trade using a broker or market participant as ZAR X calls them. "

From their response they say you must have a broker, so its clearly not a just a trading platform, maybe these guys have cooked up some hybrid solution....could we find out from them ??

#62
(02-01-2017, 11:53 AM)Miss Behavin Wrote: "In terms of the financial market Act (FMA) all investors must trade using a broker or market participant as ZAR X calls them. "

From their response they say you must have a broker, so its clearly not a just a trading platform, maybe these guys have cooked up some hybrid solution....could we find out from them ??

I think they will be a exchange like the JSE is, but will probably have a spin off sister company that acts as a broker, an umbrella company maybe?

Either way would be neat if they can join here.

#63
He won!

Yesterday’s FSB Appeal Board judgement dismissing the consolidated appeals of the JSE and 4AX against the FSB’s granting of an exchange licence to ZAR X allows ZAR X to proceed with much needed financial market innovation. The exchange will focus on facilitating investment and savings for ordinary South Africans and providing business with a more efficient and cost effective method of accessing capital.

The FSB judgement awards full costs to ZAR X. It follows the final hearing in a series of four JSE appeals against the licence, beginning in 2015.

The licence was granted on 31 August 2016.

The JSE had initially also appealed the granting of an exchange license to 4AX but dropped the appeal after the two companies agreed to cooperate in the financial markets. They both appealed the granting of the ZAR X licence.

“The judgement vindicates our belief that the JSE and 4AX appeals have been vexatious, aimed at preventing us from entering the market and, ultimately, eliminating us as a competitor,” says ZAR X director, Geoff Cook. “At our request, the Competition Commission has launched an investigation into whether the JSE’s appeals amount to an abuse of dominance, which is prohibited under Section 8 of the Competition Act.”

Pending the outcome of the FSB appeals, acting in the best interests of its issuers and the market, ZAR X postponed its intended September 2016 start date.

“This week’s judgement gives the market the confidence that the FSB followed a rigorous process in ensuring that ZAR X’s license application fully complies with the Financial Markets Act and best international regulatory standards,” Cook says.

ZAR X’s first listing will take place before the end of February, with more issuers being announced in the next few weeks.

Also read: Disruption arrives in SA’s share market – ZARX to become second exchange

The exchange will break new ground by placing the traditional world of high finance at the disposal of ordinary South Africans and organisations for whom the cost and administration of owning shares has historically been out of reach.

In the process, ZAR X will open up an entirely new investment market in which inclusiveness will broaden South Africans’ capacity for wealth creation and accelerate the entrenchment of a savings culture across all levels of society.

By basing its operating model on the latest technology, ZAR X has an agility and flexibility older stock exchanges do not necessarily enjoy. This enables it to continuously adapt to market needs and, thereby, remain relevant in a financial services sector that is being profoundly disrupted by digital, mobile, and social technologies.


ZAR X chief executive officer Etienne Nel.
“It also enables us to remain relevant to the ever-evolving transformation needs of South Africans and the businesses they will build in the next several decades,” says ZAR X CEO, Etienne Nel.

Focused deliberately on building an investment culture for South Africans, ZAR X does not permit high frequency trading, derivatives, or naked short selling.

The exchange’s introduction of a principles based listing regime reduces the complexities associated with listing, giving companies that would otherwise not consider listing an opportunity to do so. The approach is particularly significant for restricted entities such as BBBEE vehicles, enabling them to list and trade their shares in a way that ensures the sustainability of their empowerment credentials.

ZAR X promotes financial inclusion further by enabling ordinary South Africans to access the stock market at a minimum cost and with limited barriers to entry, encouraging a savings and investment culture. By allowing for zero safe custody fees, ZAR X gives people in the unbanked sector an opportunity to grow their investment base in a cost effective manner with relatively small investments. They will pay fees only when they transact.

Through its advanced technology, ZAR X is the only stock exchange in Africa to offer real time settlement, by means of which funds and shares are received immediately after transacting. This reduces trading risk for buyers and sellers alike and promotes liquidity.

“Our purpose in establishing ZAR X was to simplify the process of owning and trading in shares so that any South African could own shares,” Nel says.

“Since 1994, BBBEE initiatives have significantly increased the number of people wanting to acquire a shareholding in listed businesses and derive the benefits of sound commercial activity. But there has never been a mechanism by which an individual with a low to average income could increase his investment portfolio via a stock exchange. Not only have the cost barriers to entry been too onerous, but the processes have been incredibly complex and convoluted.

“The effect has been exclusion of large parts of society from investment in businesses. It has also limited the market. The vast majority of South African businesses either don’t qualify for listing in the current environment or don’t want to spend the time and money on complying with onerous exchange rules. In turn, this has constrained the ability of businesses to raise capital for growth. Clearly, this has a downstream impact on job creation.

“We created ZAR X as a growth catalyst, broadening the market and increasing access to it at the same time.”

Source: http://www.biznews.com/sa-investing/2017...x-licence/

#64
Holy smokes, this is AWESOME news! It's finally going to happen YAY

#65
Exactly!!! This is amazing!

#66
"No matter how sensible the idea seemed internally, its attempt to block a newly licensed competitor ZAR X was wrong. With the Financial Services Board now having rejected its appeal, the JSE’s approach shapes up as a monumental blunder. It is now on the back foot. Not a great place for Goliaths when Davids are approaching." – Alec Hogg

http://www.biznews.com/sa-investing/2017...x-licence/

#67
(02-10-2017, 01:57 PM)Miss Behavin Wrote: "No matter how sensible the idea seemed internally, its attempt to block a newly licensed competitor ZAR X was wrong. With the Financial Services Board now having rejected its appeal, the JSE’s approach shapes up as a monumental blunder. It is now on the back foot. Not a great place for Goliaths when Davids are approaching." – Alec Hogg

http://www.biznews.com/sa-investing/2017...x-licence/

The monopoly's true colors showing. 

Good thing I sold my JSE:JSE shares hehe, I think this new addition is incredible for the future of South Africa, we need more money flowing into the country.
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#68
I noticed that ZAR X posted the announcement on their instagram account last night already zarx_xchange

#69
I know we are all hyped about the launch of ZARx , however, now that I think about it, wouldn't this dilute JSE investments ie:... people going half JSE and half ZarX ?

#70
I read with interest in the Business Times yesterday that ZAR X will be offering live prices on their website !!!

How cool is that...these guys are gonna rock the boat

#71
(02-13-2017, 07:08 PM)Miss Behavin Wrote: I read with interest in the Business Times yesterday that ZAR X will be offering live prices on their website !!!

How cool is that...these guys are gonna rock the boat

Interesting times ahead, one has to wonder what their platform will look like and if you need to subscribe with a monthly fee in order to trade.

#72
(06-03-2016, 01:20 PM)I also agree, no wonder the JSE lodged an appeal to prevent their Monopoly industry to end.. Hamster Wrote: Hopefully it breaks the monopoly the JSE has and brings costs down. Maybe one of them will give a big FU to the JSE and provide live prices for free of charge!

#73
(02-14-2017, 12:25 PM)[email protected] Wrote:
(06-03-2016, 01:20 PM)I also agree, no wonder the JSE lodged an appeal to prevent their Monopoly industry to end..  Hamster Wrote: Hopefully it breaks the monopoly the JSE has and brings costs down. Maybe one of them will give a big FU to the JSE and provide live prices for free of charge!

Well @Hamster someone has listened to your prayers
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#74
Very good read: https://www.businesslive.co.za/bd/compan...g-display/

It's true I lost trust in the JSE knowing what they did in order to stagnate growth of this country and the underhanded tactics they used.

Quote:The JSE’s apparent double standard in its dealings with potential competitors is puzzling. It paints the bourse as a bully that responds only to the force of the regulator.

#75
(02-14-2017, 10:52 AM)Purply Wrote:
(02-13-2017, 07:08 PM)Miss Behavin Wrote: I read with interest in the Business Times yesterday that ZAR X will be offering live prices on their website !!!

How cool is that...these guys are gonna rock the boat

Interesting times ahead, one has to wonder what their platform will look like and if you need to subscribe with a monthly fee in order to trade.

The article was very clear live prices will be free on the ZAR X website...whoop whoop :-D






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