EESE launched its operations on Friday with the listing of Ukhamba Holdings Proprietary Limited, boasting a market capitalisation of R340 million. The company is a broad-based BEE empowered partner of Imperial Holdings Limited.
EESE joins the other new stock exchanges A2X Markets, 4AX and ZAR X, which are challenging the entrenched dominance of the 130-year-old Johannesburg Stock Exchange (JSE).
Sairr chief economist Ian Cruickshanks said if there were more exchanges, then there would be more opportunity to search around for lower transaction costs.
“That’s something positive for shareholders and asset managers. Existing exchanges are going to look to keeping themselves as efficient as possible and keep their costs down.