A2X CEO Kevin Brady
South African stock exchange A2X Markets has grown its trade value from R657-million in its first year to more than R75-billion within six years.
Similarly, trade count increased significantly as additional brokers connected to A2X with more than 1.2-million trades having taken place in the past year, up from 213 000 in 2021 to 2022.
Despite initial industry regulatory and infrastructure challenges, A2X has established itself as a competitor to the JSE, the bourse says.
Further, A2X added 88 securities to its list of issuers in the period from October 2022 to October this year, bringing the total to 183. The new listings include real estate investment funds, exchange-traded funds and well-known South African companies, 13 of which are Top 40 constituents. A2X currently has 31 of the Top 40 constituents listed on its bourse.
“A2X’s growth could not have been achieved without the support of our brokers and issuers who have backed competition. We are proud to be playing our part in growing the markets in South Africa and the savings pool for all investors,” says A2X CEO Kevin Brady.
The savings are driven by cost-effective trading fees and the ability to capture price improvement, as a result of the buying and selling of shares at a better price when brokers transact on A2X. There is no cost, risk or additional regulation to list on A2X, he points out.
“Competition in the exchange space internationally has been a driving force for innovation, price improvement and the enhancement of services offered to customers. The presence of multiple trading venues leads to more robust, efficient and diverse financial markets and benefits for investors,” Brady states.
“Competition in any industry is good for everyone. A2X is growing the marketplace and the savings pool for all investors in South Africa,” he adds.