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by Platinum Wealth at 04-20-2018, 08:36 PM
Quote:Artist, DJ and producer Tim Bergling, a.k.a. Avicii, died this afternoon in Oman, according to a statement from his rep. He was 28.

“It is with profound sorrow that we announce the loss of Tim Bergling, also known as Avicii,” the statement reads. “He was found dead in Muscat, Oman this Friday afternoon local time, April 20th. The family is devastated and we ask everyone to please respect their need for privacy in this difficult time. No further statements will be given.”

He had retired from live performing in 2016, citing health reasons. He had suffered from health problems for several years, including acute pancreatitis, in part due to excessive drinking. He had his gallbladder and appendix removed in 2014.

by Stanton-AlgoTrading at 04-18-2018, 09:37 PM
Hi There

If any of you are interested in trading using algorithms.

Algotrading is now offering free training, webinars and a whole bunch of other goodies if you register for a GT247 trading account through the algotrading.co.za website.

by Outlook at 04-16-2018, 07:00 PM
Where can I find a Heatmap of the JSE stocks?

I would like to be able to filter based on a few selections like:
  • Whole Market - excluding Warrants
  • Top 40 Market Cap
  • Top 100 Market Cap
  • JSE Indices

My google foo is failing me.
by TRADER SUMMIT by EA at 04-16-2018, 03:15 PM
In case you missed it, this years Trader Summit will play host to one of the most authoritative trading authors of all time - JACK SCHWAGER.

The world famous author of 'Market Wizards' and 'New Market Wizards' will be sharing his insights at this unique event dedicated to serious market followers, from professional day traders to the part-time investors and everyone in between.

Don't miss this opportunity to hear from one of the greats. The event will be held in Sandton, Jhb on Saturday 2 June. Seats are limited and tickets can be reserved on Quicket:

Keep an eye on our site for announcements on the other guest speakers http://www.tradersummit.co.za
by Platinum Wealth at 04-16-2018, 01:48 PM
We were fortunate enough to be at the InvestSure launch were EasyEquities introduced an insurance option for individual stocks on their system. We walked through the process and found it incredibly innovative.

The purpose is to protect you from losses arising from deceptive or misleading acts of directors & management.

You will be covered for a 12 month period when you'll have the choice to renew the insurance for another 12 months period etc. They'll pay out the difference between what price you sold at and at what price you bought it at. So you have no capital loss.
JSE Finance Forum Attachment - Filename: Introducing InvestSure on EasyEquities.jpg   

Screenshot of how it works on EasyEquities
JSE Finance Forum Attachment - Filename: What-is-Investsure.jpg   

What is Investsure?
Based in Johannesburg, InvestSure is a new insurance product that insures listed shares bought on participating trading platforms, against losses arising out of the deceptive or misleading acts of management of the company.
by Platinum Wealth at 04-16-2018, 12:57 PM
SA’s 14th-largest company by market value will get its secondary listing on A2X Markets on Monday, which will be this bourse’s first large-cap listing.

The move will deliver a fivefold increase to A2X’s market capitalisation and make the challenger exchange a far bigger threat to the JSE.

Insurance group Sanlam would take a secondary listing on the exchange on Monday, A2X Markets said.

With a market value of R181.9bn, Sanlam was the country’s 14th-largest listed company on Thursday, behind Old Mutual and MTN, but ahead of Barclays Africa Group and Shoprite.

Sanlam’s secondary listing, which follows the likes of Coronation, Afrimat, African Rainbow Capital Investments and Huge Group, will take A2X’s total market value from R47.1bn to about R229bn.

This is still a fraction of the JSE all share index, with a market value of R11.6-trillion, but many times the size of rivals, ZAR X and 4 Africa Exchange.

What it means
Moreover, Sanlam’s secondary listing on A2X means shareholders can now choose to trade their shares on that bourse rather than on the JSE.

This is significant, considering that Sanlam is one of the JSE’s most liquid stocks and that A2X claims its trading costs are "upwards of 40% cheaper" than its larger rival. Four of the country’s largest stockbrokers, SBG Securities, Peregrine Securities, RMB Morgan Stanley and Investec Securities, are already trading on A2X.

A2X had observed narrower bid-offer spreads (the difference between the price to buy and the price to sell a stock) on its stocks compared with those of their JSE-listed equivalents, said CEO Kevin Brady. This was entirely a function of its lower cost to trade, which benefited stockbrokers and investors.

Stockbrokers and shareholders can now verify these claims, as real-time data coverage of securities listed on A2X went live on the Bloomberg terminal on Thursday. This was important in providing "full visibility of price and volume activity on A2X", as the majority of industry participants in SA used the Bloomberg terminal, Brady said.

"This will empower the industry to achieve best execution when transacting in listed securities across multiple exchanges," he said.

In markets such as the US, where multiple large exchanges have existed for some time, brokers are legally required to seek the best execution reasonably available for their customers’ orders. Factors to be considered include price, speed of execution and the likelihood that the trade will be executed. However, this is not yet law in SA.

Sanlam CEO Ian Kirk said the group’s A2X listing was in the interests of its shareholders and "provides an opportunity to participate in the ongoing development and overall growth of South Africa’s capital markets".

Sanlam’s longstanding black economic empowerment partner, Ubuntu-Botho Investments, is an indirect shareholder in A2X through its stake in the Patrice Motsepe-backed African Rainbow Capital Investments, which holds a 20% stake in A2X. It is 51.6% owned by African Rainbow Capital, which is in turn wholly owned by Ubuntu-Botho.

Brady said he was confident the listing of a company of Sanlam’s calibre would attract other issuers. A2X expected to list a mid-cap industrial company at the end of April.

Source: Businesslive
by Platinum Wealth at 04-11-2018, 08:06 PM
Sagarmatha Technologies, the umbrella company that was hoping to unite the various groups in Iqbal Survé's media empire under a new roof, will not be listing on the JSE Friday as scheduled.

"On 10 April 2018 at 14:00, the Company received a letter from the JSE giving notice to the company that the listing could no longer proceed," said Sagarmatha in a shareholder statement on Wednesday afternoon.

The company said it had been informed by the JSE that it could not list on the local bourse because it had not submitted the correct financial statements in time.

The stock exchange said it had not its submitted its annual financial statements to the Companies and Intellectual Property Commission in time for the listing to go ahead, although Sagarmatha claimed it had.

In addition, the JSE said it failed to release the interim results of the company for the 12 months ending 31 December 2017 by the due date of April 9.

"The company is disappointed that the JSE has made a decision that the listing cannot proceed," it said. "Regrettably therefore due to the JSE’s decision, the company cannot continue with the listing on the 13th of April 2018.""The company will consult with its advisors and consider its next steps."

'Commitments exceeding R4bn'

In a separate statement, also released on Wednesday, Sagarmatha said that it received "indicative commitments for this listing exceeding R4bn, therefore comfortably meeting the minimum listing requirements of the JSE".

The technology and media group was hoping to announce Wednesday that it had raised up to R7.5bn in the placement of 189 million of its 1.2 billion shares.

It previously said that about R1bn would be used to pay off debt. It was also aiming to use the private placement proceeds to roll out three additional regional offices in Africa, finance growth strategies, improve its current platforms and buy new technology businesses.

"However, due to the JSE withdrawal of the listing notice, Sagarmatha Technologies is legally bound not to accept these applications from its committed investors. Sagarmatha Technologies was hopeful it could resolve this issue with the regulator and requested the extension of a new listing date. However, the JSE has requested the company make provision for a fresh listing application."

Sagarmatha’s current assets include majority stakes in news wire agency ANA, e-commerce retailer Loot, IOL Property and online news site IOL.

It was also aiming to buy all the shares in Sekunjalo Independent Media, the holding company that owns a 55% stake in newspaper publisher Independent Media, owner of the Cape Times, the Star and other newspapers. Sagarmatha previously said that it would have bought these shares by the time it lists on the JSE.

The way forward

Sagarmatha said that its board would consider a number of options after its listing was shelved. These include offers to purchase "its four largest businesses" by unnamed international investors, and possible listings on the New York Stock Exchange, the Hong Kong Stock Exchange or again on the JSE.

It also again hit out at how rival media groups covered the runup to the listing, saying it had been the subject of a "disinformation campaign".

"As with all pioneering moves, boldness is subject to a lot of analysis, and in this case, also vast misunderstanding. This unfamiliarity sadly lent itself to a focus on Independent Media, rather than on the greater picture Sagarmatha Technologies as a whole, represents," it said.

Source: Fin24
by Platinum Wealth at 04-10-2018, 08:29 PM
Chinese President Xi Jinping has warned against a "Cold War mentality" as he vowed to open up parts of the country's economy.

His speech at the Boao Forum for Asia - often referred to as Asia's Davos - appears to be an attempt to calm a trade row with the US.

He pledged to cut import tariffs on cars and relax requirements for foreign firms investing in China.

But there were few specifics on when the changes would happen.

'Zero-sum game'
Mr Xi made no specific references to the ongoing spat with the Washington which has seen both sides announce tit-for-tat plans to slap tariffs on imports.

But in a veiled swipe at US President Donald Trump's America First stance, Mr Xi called for openness.

"Human society is facing a major choice to open or close, to go forward or backward," Mr Xi said to the audience made up mainly of Chinese and international investors.

"In today's world, the trend of peace and cooperation is moving forward and a Cold War mentality and zero-sum game thinking are outdated.

"Paying attention only to one's own community without thinking of others can only lead into a wall. And we can only achieve win-win results by insisting on peaceful development and working together."

President Trump, whose plan to hit hundreds of Chinese products with duties have stoked fears of a trade war, has yet to react.

Washington claims China has failed to fulfil earlier promises to open up the economy - including putting up barriers to international companies accessing markets and forcing investors to form joint ventures and hand over intellectual property.

Xi seeing himself as 'the adult in the room'
Analysis by Karishma Vaswani, Asia Business Correspondent

China's President Xi Jinping likes to position himself as the champion of globalisation. He consistently does that when he's making speeches at international forums.

And what better time to do that than now, against the backdrop of the ongoing US-China trade row.

President Xi says a cold war and zero sum mentality are out of place and that dialogue is the way to resolve disputes.

What he most likely means by that of course - although he never specifically says it - is that US President Trump's recent rhetoric on trade and unfair practices by China aren't in keeping with the way reasonable adults should behave.

In contrast to the bluster and fiery barbs evident in President Trump's tweets, President Xi put forward the face of a new China, and announced steps to make China's economy more open.

Amongst the things he talked about included lowering import tariffs for vehicles, and improving transparency, and intellectual property rights protection.

He also said China genuinely doesn't want a trade surplus.

But while on the surface the promises sound grand, some of this is stuff we've heard before. So it's hard to see just how much more access China will give foreign firms in reality.

But will President Trump see President Xi's conciliatory speech as a sign that he's won some concessions for the US side? Wait for his next tweet!

Beijing Deals
There was $462.6bn worth of goods bought by the US from China in 2016.
18.2% of all China's exports go to the United States
$129bn worth of China-made electrical machinery bought by US
59.2% growth in Chinese services imported by US between 2006 & 2016
$347bn US goods trade deficit with China

Source: BBC UK
by Platinum Wealth at 04-10-2018, 08:26 PM
The Financial Sector Conduct Authority replaces the FSB, and the banking supervision department at the Reserve Bank becomes the Prudential Authority.
Finance Minister Nhlanhla Nene has set in motion processes to disband the Financial Services Board (FSB) as well as unbundle the banking supervision department from the Reserve Bank.

The FSB will be replaced by a new body called the Financial Sector Conduct Authority (FSCA), while the banking supervision department will be located within a new regulator called the Prudential Authority (PA).

Dubbed the ‘Twin Peaks regulatory system’, the model was approved by Cabinet in 2011, and it aims “to create a safer financial sector that works effectively in the interests of all South Africans, by reducing potential threats to the financial system and providing better protection to financial customers”.

In a statement released by Treasury, it was announced that the FSCA, the FSB’s replacement, will “supervise how financial institutions conduct their business and treat customers”.

The new body is also tasked with “improving customer protection in the financial sector, and driving better customer outcomes, ensuring that the sector serves South Africans best”.

The Prudential Authority (PA), a new entity linked to the Reserve Bank, “will be responsible for the safety and soundness of banks, insurers and other financial institutions”. The transition period will affect entities currently reporting to the FSB, such the office of the Financial Services (Fais) ombudsman.

Over the weekend, National Treasury released job adverts for the commissioner and deputy commissioner of the FSCA, while the deputy governor of the Reserve Bank will be in charge of the PA. Addressing FSCA staff members last week, Nene assured them the transition would be painless and that the FSB board chairperson was currently the chairperson of a transitional management committee to oversee FSB to FSCA.

In terms of the transition period, the FSCA will inherit existing investigations and inspections carried over from the FSB period and matters being heard by the FSB enforcement committee and appeals board will be seen to conclusion.

The current members of the FSB appeal board, the board of review and the FIC appeal board will be appointed to constitute the Financial Services Tribunal for a period of three years to be chaired by retired Constitutional Court Justice Yvonne Mokgoro.

An ombudsman council is to be created in terms of the FSR Act, effective from October 1, to allow for sufficient time for appointments to be made. The council will oversee all the ombudsman offices reporting to the FSB.

“The FSR Act does not affect the composition and establishment of the statutory ombuds. One change is that the ombuds had previously reported to the FSB Board as their oversight body. As this board no longer exists the independent governance committees established to perform over of the Financial Sector Conduct Authority will similarly perform oversight over the statutory ombuds,” Treasury said in an emailed statement.

Source: The Citizen
by Platinum Wealth at 04-10-2018, 02:40 PM
Former president Jacob Zuma's adviser fraudster Schabir Shaik and French arms manufacturer Thales formed a common purpose to bribe the former president through a series of payments.

This was revealed in the 89-page indictment released by the National Prosecuting Authority this week.

The State said Zuma had benefited in the period of October 25, 1995, to July 2005 through 783 payments totaling R4 072 499.85.

"This was by way of payments from Shaik and/or relevant corporate entities within the Nkobi group (controlled by Shaik) and/or the other relevant corporate entities to accused one (Zuma) and various parties for the benefit of accused one," read the indictment.

Zuma appeared in the KwaZulu-Natal High Court in Durban on Friday, April 6, along with his co-accused, Thales, which was represented by Christine Guerrier.

Guerrier had traveled from Paris to attend the case.

No business sense

Zuma as accused number one faces charges of fraud, money laundering, corruption and racketeering. The former president had the support of senior ANC KwaZulu-Natal and former Cabinet ministers when he appeared last Friday. The case was postponed to June 8.

The indictment says the common purpose between Zuma, Shaik and Nkobi group was formed on or before October 25, 1995.

However, the State says the scheduled payments to Zuma do not make any legitimate business sense.

It alleges that neither Shaik nor the Nkobi group could afford the payments, as they were at all times in a "cash-starved position" and at times relied on bank overdrafts and borrowing money from banks at prevailing interest rates – to make the payments interest free.

The State also said the group's survival depended on obtaining profitable new business. It also said whether the loans were affordable or not, it was not the Nkobi group's legitimate business to make payments to Zuma or other politicians.

"Even if the payments could properly be regarded as loans, they amounted to 'benefits'," it said.

No effort to recover payments

The State said some of the payments, described and treated in certain Nkobi groups as loans, was inconsistent.

"The final accounting treatment of R1 137 722.48 of the total payments of R4 072 499.85 does not reflect the payments as loans," it said.

The State added that the scheduled payments were intended by Shaik, the Nkobi group and Thales as bribes.

"The funds were paid without security. This is not a usual commercial practice with banks, more especially in respect of a customer with accused one's risk profile.

"Despite Nkobi's precarious position with the banks, Shaik and Nkobi made no effort to recover any of the payments from accused one.

"This failure to demand repayments is itself a benefit to accused one."

'Service provider agreement'

The State also alleges that during 1998, Zuma intervened and assisted Shaik, the Nkobi group and Thales to resolve a dispute that had arisen regarding Nkobi's participation with Shaik in the acquisition of African Defence System (ADS).

The former president's assistance relating to the arms deal was informal and it did not form part of the official bidding/selection process, said the State.

The indictment further alleges that in 1999 and 2000, Thales and Shaik conspired with Zuma to pay him an amount of R500 000 per annum as a bribe in exchange for his protection in investigations into the arms deal.

"These annual payments were to continue until the first payment of dividends by ADS."

The State further alleges that it was agreed between the parties that the "bribes" would not be paid directly to Zuma, "but that some method of payment would be employed that was calculated to disguise the true nature of the payments so as to avoid detection".

The indictment says during late 2000 to early 2001, Kobifin (Pty) Ltd entered into a so-called "service provider agreement" with Thales in Mauritius as a device to "conceal or disguise the true nature and source of the payments of the bribe".

Source: News24
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