Investing

A2X smashes trading record

A2X achieved a record day with trade totalling R780 million on Tuesday, almost double its previous daily record.

A2X is a South African capital markets exchange established to bring competition to the local capital markets by secondary listing public shares for trade.

Simply put, A2X offers brokers an alternative to trading on the JSE and provides lower trading fees and indirect savings through narrower bid/offer spreads.

The exchange debuted on 6 October 2017, with three listings – African Rainbow Capital, Peregrine Holdings, and Coronation Fund Managers with a combined market cap of R14 billion.

Fast forward five-and-a-half years and A2X has grown to 112 trading instruments with a combined market cap of R6.7 trillion.

There has been a flood of listings on A2X in recent months, including Life Healthcare, Balwin Properties, Attacq, Pick n Pay, Stor-Age, Absa, and Fortress Real Estate.

They join well-known companies already trading on the exchange, including AngloGold Ashanti, Exxaro, Discovery, Investec, Mr Price, Naspers, Nedbank, Remgro, Sanlam, Sasol, and Standard Bank.

The rapid increase in listings has helped to increase trading activity on the exchange, which hit a record in March.

The record month represented an increase of 52% in value traded on the previous record of A2X in September 2022 and an increase of 355% on March 2022.

R6.037 billion was traded last month, up from R3.433 in February 2023. On Tuesday, R780 million was traded on A2X, which exceeded the total trading volume in April 2022.

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