JOHANNESBURG - Equity Express Securities Exchange (Eese), a shareholder administration platform and share-matching engine, has been granted a licence to operate an exchange by the Financial Services Board (FSB).
In a statement released yesterday, the FSB said: “The registrar received and considered an application for an exchange licence from Equity Express and has granted Eese an exchange licence with terms and conditions after careful consideration of objections received.”
Eese chief executive Anthony Wilmot said the granting of a stock exchange licence essentially complemented services the company had been providing to existing clients.
“Eese will be operating an exchange that is prefunded on a similar basis to the JSE. It is a stock exchange.
This exchange will list equity instruments and have a broker community similar to the other registered exchanges.”
He said the exchange would not be in direct competition with the JSE but rather provide an alternative for companies for an exchange specialising in issuers with shareholder restrictions.
- BUSINESS REPORT