Do we need another stock exchange? Here are some reasons why we do

The Financial Service Board today approved a licence for a second stock market in South Africa.

ZAR X is a local company licenced to compete with the Johannesburg Stock Exchange (JSE).

We've identified a need in the market, a midcap space, for corporates who want to raise medium size amounts of money, around 200 million to a billion rand, and they are finding it difficult on the JCE.

Etienne Nel, CEO ZAR X

This is the market ZAR X is targeting. Nel says they are going live on 1 September.

But why do we need another stock exchange?

It speaks to a recall of a free market system.

Etienne Nel, CEO ZAR X

Nel says ZAR X will not be saddled with a legacy system and rules and regulations that drag them down.

ZAR X plans to facilitate listings of restricted share schemes, currently trading over-the-counter (OTC)

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