Thomson Reuters has announced that it will provide ZAR X Equity Level 1 market data on their platforms to all customers globally.
- ZAR X is one of the main sponsors of the FinTech Awards, which take place during this week's Finance Indaba Africa. REGISTER NOW for free with code FB2017.
ZAR X, the first of South Africa's new exchanges to be issued its operating licence, facilitates listings of its own primary listings, investment entities such as preference shares and ETFs, and restricted securities typically seen in BEE schemes. The exchange is currently trading three stocks - Senwes (SWS.ZX), Senwesbel Limited (SWB.ZX) and TWK Investments Limited (TWI.ZX) - with more listings in the pipeline.
Etienne Nel (pictured), co-founder and CEO at ZAR X, said:
"Competition is important to keep down transaction costs and to encourage innovation, as well as raising the variety of trading platforms for financial inclusion. As a low cost, simple and convenient trading platform that gives ordinary South Africans a share in the success of business activity, we believe that financial inclusion and fostering a savings culture is key to the development of African capital markets by broadening the pool of money looking for a home on the continent. And, by partnering with Thomson Reuters, we now have increased visibility, as our listed stock data is being made available to Thomson Reuters customers across the globe which opens up enormous scope and market liquidity."
- We're going at 100 km/h, says ZAR X CEO, Etienne Nel, in this exclusive interview.
- ZAR X completes first trade in less than 10 seconds
ZAR X is also driving innovation through its technology platform. Securities are traded across a state-of-the-art technology platform that permits transactions to be executed on a T+0 or same-day settlement of trades. This model is world leading and significantly reduces settlement risk, as all transactions are pre-funded. It makes investing simpler and affordable for the public, especially lower income groups, and investors can undertake trading via their mobile phones.
ZAR X data will be made available on Thomson Reuters' Eikon platform, which provides access to content from more than 400 exchanges and OTC-traded markets, and over 70 direct exchange feeds.
