A2X competes directly with the JSE and provides an alternative platform for companies to secondary list and trade their shares. It is aligned with the current T+3 settlement process used in South Africa and utilises the existing capital markets settlements infrastructure, Strate.

The executions comprised various trade types, ensuring that both client agency and broker principal executions were on T+3 as per normal market convention.

Brett Kotze, A2X Head of Post Trade Services, says that seamless trades, along with a smooth clearing and settlement process are an important milestone for A2X. “It provides our market participants with the additional assurance that our post trade systems are functioning as planned and communicated. All approved brokers connected on launch day and as anticipated, there was light trade on the system as A2X was put to the test to ensure our full trade, allocation, clearing and settlement process operate effectively.”

A2X continues to review additional applications from brokers for approval and is also engaging with a number of issuers to grow the market. “The successful launch of A2X underpins the willingness of participants to accept and support competition in the South African market,” says Kotze.

A2X reports a seamless first trading cycle