By Lehlohonolo Lehana.
JPMorgan Equities South Africa has started trading on A2X Markets, as it continues to expand its presence in South Africa’s listed securities market.
A2X in a statement to Fullview said, JPMorgan’s participation means its members now represent 85% of trades in listed securities executed in South Africa.
JPMorgan has a longstanding presence in the country and serves clients from Johannesburg and Cape Town through its Commercial & Investment Bank businesses.
Ockie Raubenheimer, executive director and head of South African cash equities execution at JPMorgan, said joining A2X would expand the options available to its clients.
“By commencing trading on A2X, we are enhancing our offering to clients by expanding access to liquidity and supporting best-execution objectives in South Africa,” he said.
“JPMorgan continues to innovate and invest in execution technology to provide our clients with best-in-class access to markets around the world.”
JPMorgan joins existing A2X brokers including Peresec Prime Brokers, RMB Morgan Stanley and SBG Securities.
Kevin Brady, CEO of A2X Markets, commented, “We are delighted to welcome J.P. Morgan to A2X. J.P. Morgan is a global leader in financial services, and their participation adds further depth to the liquidity available on our platform. A2X offers brokers and their clients meaningful cost savings and improved execution quality, and we’re pleased J.P. Morgan will now be able to access that value directly.”
A2X is a licensed stock exchange providing a secondary and inward listing venue for listed companies and exchange traded products, with 167 securities, including 30 of the top 40 companies in South Africa. A2X is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) under the Financial Markets Act. A2X has been operational since October 2017.