SBG Securities is the leading stock broking firm in Africa and a wholly owned subsidiary of Standard Bank Group Limited.
The approval follows the successful maiden settlement of an institutional client agency trade on A2X by Standard Bank Investor Services, one of South Africa’s largest CSDPs (central securities depository participants).
A2X CEO, Kevin Brady says, “SBG Securities is one of SA’s leading stock brokering firms and was ranked number 1 in this year’s Financial Mail research rankings awards. We are thrilled to have them on board as an approved broker and hot on the heels of the seamless settlement of our first agency trade with Standard Bank Investor Services.”
Luke Middlewick, CEO of SBG Securities, says, “As a key player in SA’s capital market, it made sense for us to be at the forefront of this initiative bringing competition and the consequent well-established benefits to the South African financial market.”
A2X competes directly with the JSE and provides an alternative platform for companies to secondary list and trade their shares. A2X began trading on 6 October 2017 and now has five brokers on board. African Rainbow Capital Investments (AIL), Peregrine Holdings (PGR) and Coronation Fund Managers (CML) were the first counters to take advantage of a secondary listing on A2X.
A2X uses technology developed by the UK’s Aquis Technologies, a division of Aquis Exchange, which includes proven exchange matching and surveillance systems and a clearing platform custom-built for A2X. Aquis Exchange is authorised and regulated by the UK Financial Conduct Authority (FCA). The market leading exchange systems are fast and efficient. Its surveillance system is programmed to monitor trading across multiple markets and ensures that any trading anomalies are detected early. This ability to provide cross market surveillance will be a first in South Africa.