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JSE: A New Era. Noah Greenhill GM: Marketing and Business Development. Our business today. 5 Markets Equities – listing, trading & regulation of shares, ETFs and warrants Equity Derivatives – SSF, index derivatives, can-do options

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Jse a new era

JSE: A New Era

Noah Greenhill

GM: Marketing and Business Development


Our business today

  • 5 Markets

    • Equities – listing, trading & regulation of shares, ETFs and warrants

    • Equity Derivatives – SSF, index derivatives, can-do options

    • Agricultural Products – maize, wheat, soya and sunflowers

    • AltX

    • Yield-X

  • Equities and derivatives clearing

    • Own 11% of Safcom

  • Settlement

    • Own 41% of STRATE

    • Guarantee of equity trades

  • Information product sales

  • Technology services


Opportune environment for listing of jse
Opportune environment for listing of JSE

  • 1 July 2005 – demutualised and taxable

  • 5 June 2006 – listed on Main Board

  • 5 June 2006 – implemented Broad-based BEE deal

  • Good progress in meeting Financial Sector Charter targets


Key operational highlights 2005
Key operational highlights – 2005

  • Higher level of demand for new Main Board equity listings

    • 14 new listings (2004: 11)

  • Record overall JSE equity trading volumes and values

    • Average daily value traded up by 24%

    • Average daily number of trades up 29%

  • Zero failed trades for more than 5 years despite increase in volumes

  • Good performance in equity derivatives

    • Average daily number of contracts increased by 35%

    • Open interest increased by 29%


Key operational highlights 20051
Key operational highlights – 2005

  • AltX growth – market for small and medium sized companies

    • Listed 6 new companies

  • Yield-X – one-stop shop for a wide range of interest rate products

    • Launched in February

  • Revenue from information product sales up

  • Third round of Socially Responsible Investment Index

    • Number of successful constituents increases

  • Ongoing migration of the exchange onto new IT systems

    • Project Orion a major priority




Equities main board
Equities – Main Board trades

  • Good level of demand for equity new listings on the Main Board – 11 YTD

  • Warrant issues more than doubled in 2006– 356 YTD

  • Continued increase in equity trading volumes and values

    • Average daily value traded up 80% YTD

    • Average daily number of trades up 65% YTD

  • Net foreign investment at an all time high– R56.5 billion YTD

  • Liquidity improved – 46.0% YTD

  • New inward dual listings

  • A number of new product launches

    • eg SATRIX Swix and SATRIX Resi in 2006, ITRIX range

  • Next steps

    - Foreign companies, ETFs, African listings, listed company forums

    • Settlement needsto move from T+5 to T+3 together with a reduction in costs

    • Broad-based investor education initiatives to continue with strategic partners


Alt x
Alt tradesX

  • AltX is for small and mid-sized companies

  • 23 companies currently listed

    • 8 new companies

    • 1 company graduated to the Main Board

    • 1 company migrated from Main Board to take advantage of better matched value proposition

  • 17 designated advisors

  • Directors’ induction programme

  • Next steps

    • More company listings in the pipeline


Yield x
Yield-X trades

  • Launched February 2005

    • new market offering a broad range of exchange traded interest rate derivatives

  • Gaining market traction

  • Corporate bonds able to be listed on Yield-X from 1 July 2006

  • Next steps

    - Target retail issuers

    - Yield-X upgrade for retail trade to come


Opportunity africa
Opportunity - Africa trades

  • Dual listing

    • Costs

  • Expand liquidity pool

  • Access to “new” pool of investors

  • Access to “new” capital

  • Access to foreign capital

    • Emerging market funds

  • Arbitrage opportunities

  • BEE (specifically South Africa)


Questions

Questions? trades


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