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A2X wants to grow the share of stock market trading activity happening on its platform to 20% or 25% in five years.
Challenger stock exchange A2X Markets says it is gunning for the main bourse’s market share like never before. In the five years of its existence, the African Rainbow Capital-backed secondary exchange has only managed to get a drop in the ocean of share trading activity in SA. The Johannesburg Stock Exchange (JSE) still commands 99.7% of share trading volumes in the country.
A2X CEO Kevin Brady said the young exchange, on the other hand, has a 3% trading market share of the 88 companies listed in it. But he believes this is about to change.
He is confident that this and the lower costs when accessing and trading on their platform will be enough to win over additional investors and companies, and Brady has been approaching more JSE companies, trying to get them to list on the A2X since resolving a dispute with the JSE on how to settle trades. The number of securities listed on A2X has grown 69 in July to 88 now, with the owner of the Waterfall City, Attacq, set to become the 89th listing on the exchange later this month.
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