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Profile Group goes live with ZAR X and 4AX data

02 November 2017 Ernie Alexander, Profile Group

The Profile Group, a leading distributor of financial data in South Africa, welcomes the licensing of four new stock exchanges by SA's FSB (Financial Services Board).

Price data and company information for securities listed on ZAR X and 4AX is already available on ProfileData’s equity information site, www.sharedata.co.za.

“ZAR X led the charge and successfully listed Senwes and Senwesbel on their bourse in February 2017, followed by TWK Investments later in the year,” says Ernie Alexander, Chairman of the Profile Group.

“Our business is getting accurate and up-to-date information to investors. From mid- October, all available data for shares and financial instruments listed on the new exchanges has been incorporated into Profile's databases and can be provided to clients along with data from the JSE and other sources.”

Profile is in discussion with the other new licensed exchanges, A2X and EESE, to incorporate their data feeds as soon as possible.

While there is some scepticism in the market as to whether there is room for so many exchanges in South Africa, the developments are welcome as the business of listed exchanges has been largely monopolised by the JSE, which was established in 1877. It is the oldest surviving exchange of those established in the early years. Its last competitor, The Union Exchange, was closed in 1958. “This new competition is healthy for bourse development and will hopefully lead to a ramp-up of innovation and cost-cutting which will help investors and promote liquidity,” says Alexander.

 

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