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Posted by on Apr 6, 2016 in News, Press Release |

ZAR X given go-ahead to launch first stock exchange in SA in over 100 years

ZAR X (Pty) Ltd announced today (Wed. March 30) that it has been granted a stock exchange licence by the Financial Service Board (FSB). The licence enables the company to operate a fully-fledged, independent stock exchange and provides an exciting alternative to companies that want to list their securities on a licensed exchange.

Investors are able to trade securities across a state of the art technology platform that permits transactions to be executed on a T+0 or same day settlement of trades, said ZAR X CEO Etienne Nel. The current timeframe is T+5 or five days between matched trade and settlement and clearing into an investor’s account. The ZAR X model is world leading and significantly reduces settlement risk as all transactions are pre-funded.

“We also make investing simpler and affordable for the public – especially the lower income groups,” Nel added. The innovative technology enables investors to undertrake trading via their mobile devices.

 

Read the full article here.