Johannesburg Stock Exchange (JSE)

South Africa

One Exchange Square
Gwen Lane , Sandown
Private Bag X991174
Sandton, 2146
South Africa

Tel:+27 11 520 7000
Web address: www.jse.co.za
Email: info@jse.co.za

AFM contact person: Chris Sturgess (chriss@jse.co.za)

Established:
The JSE was established as a stock exchange in 1887 following the gold rush on the reef. The JSE’s Commodity Derivatives division, then the Agricultural Markets division of the independently owned South African Futures Exchange (Safex), was a founding member of the AFM. The Safex Agricultural Markets Division was established in 1995 following deregulation of the grain industry in South Africa. In 2001 the JSE acquired Safex and today the Commodities Market operates under the Capital Markets Division within the JSE.

Type: Electronic trading

Contracts

The JSE is a key part of South Africa's economic landscape. As South Africa's only full service securities exchange, we connect buyers and sellers in a variety of different financial markets, namely equities, equity derivatives, commodity derivatives, currency derivatives and interest rate instruments.

We are the market of choice for local and international investors looking to gain exposure to the leading capital markets in South Africa and the broader African continent.

With regards to the derivative instruments available, the Commodity Derivatives Market, with the actively traded grain products, provides the price discovery and price risk management platform for the deregulated grains market in South Africa enabling the continued development of agriculture in the region. In addition to this, the well-established Equity Derivatives Market continues to expand its product base and provides derivatives on a number of index products. The Currency Derivatives Market is also well entrenched in the South African market now also offering a access to a number of African currency pairs.

A respected brand associated with market integrity, we are regarded as a mature, efficient, secure market with world class regulation, trading, clearing, settlement assurance and risk management.

  • listing
  • issuer regulation
  • trading
  • post trade and information services
  • technology and related services

According to the Futures Industry Association (FIA), the JSE is ranked within the top 20 largest derivatives exchange in the world in terms of the number of contracts traded.

For detailed contract specifications visit www.jse.co.za

 

ACCESS TO FUTURES MARKETS:

The exchange has different membership criteria for the different trading divisions. All trading clients are required to register with a broking member of the relevant division to access the market. Although registered dealers of the member firm enter most client orders, more and more clients have direct market access via software provided by their member firms. This has improved access for clients as they can execute trades directly onto the market. The member firm continues to guarantee their business and is responsible for setting trading limits for this type of activity.
 
Currently all members connect directly to the exchange via private leased lines, however the exchange is in the process of offering a managed network solution to members whereby a third party service provider could facilitate their point to point connectivity to the exchange using shared infrastructure.
 
The exchange has both local and foreign clients participating, both categories of clients have the same access to the market with the only additional requirement for foreign clients is a non-resident bank account with a local institution in order to comply with South African Exchange Control regulation. There is no restriction for the flow of funds for foreign clients.
The JSE in 2014 went live with its colocation services and now can offer market participants access. The JSE was recognised for its efforts in this regard through an award presented by FOW in 2014.
 

INITIAL MARGIN:

for the latest margin requirements see the link to the various derivative markets:

www.jse.co.za and select the applicable products or visit www.jse.co.za/downloadable-files

 

MARGIN FUNDING:

The exchange is not involved in funding any of the margins required, this is usually done by the various clearing members and in some cases the member firm themselves. For more details around the risk management functions of the JSE visit: https://www.jse.co.za/services/post-trade-services/risk-management
 

NEWS:

For all the latest news see this link; https://www.jse.co.za/media-centre/press-releases
 
There is a choice of different mediums to follow the JSE – visit www.jse.co.za