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Copyright© JSE Limited 2006 www.jse.co.za JSE: A New Era Noah Greenhill GM: Marketing and Business Development
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Copyright© JSE Limited 2006 JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

Mar 26, 2015

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Page 1: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

Copyright© JSE Limited 2006 www.jse.co.za

JSE: A New Era

Noah Greenhill

GM: Marketing and Business Development

Page 2: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 2

Our business today

5 Markets− Equities – listing, trading & regulation of shares,

ETFs and warrants− Equity Derivatives – SSF, index derivatives, can-do

options− Agricultural Products – maize, wheat, soya and

sunflowers− AltX

− Yield-X

Equities and derivatives clearing− Own 11% of Safcom

Settlement− Own 41% of STRATE− Guarantee of equity trades

Information product sales

Technology services

Page 3: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 3

Opportune environment for listing of JSE

1 July 2005 – demutualised and taxable

5 June 2006 – listed on Main Board

5 June 2006 – implemented Broad-based BEE deal

Good progress in meeting Financial Sector Charter targets

Page 4: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 4

Key operational highlights – 2005

Higher level of demand for new Main Board equity listings

− 14 new listings (2004: 11)

Record overall JSE equity trading volumes and values

− Average daily value traded up by 24%

− Average daily number of trades up 29%

Zero failed trades for more than 5 years despite increase in volumes

Good performance in equity derivatives

− Average daily number of contracts increased by 35%

− Open interest increased by 29%

Page 5: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 5

Key operational highlights – 2005

AltX growth – market for small and medium sized companies− Listed 6 new companies

Yield-X – one-stop shop for a wide range of interest rate products

− Launched in February

Revenue from information product sales up

Third round of Socially Responsible Investment Index− Number of successful constituents increases

Ongoing migration of the exchange onto new IT systems − Project Orion a major priority

Page 6: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

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JSE equities market capitalisation & liquidity

-

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

3,500,000

4,000,000

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

Ran

d M

illio

ns

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

Per

cen

tag

e

Market Capitalisation

Liquidity

Page 7: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 7

JSE equities market average monthly value traded & number of trades

Equities: Average monthly value & No. of trades

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

180,000

200,000

2000 2001 2002 2003 2004 2005 2006

Ran

d -

Mill

ion

s

-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

No

. of

trad

es

Turnover

Trades

Page 8: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 8

Equities – Main Board

Good level of demand for equity new listings on the Main Board – 11 YTD

Warrant issues more than doubled in 2006 – 356 YTD

Continued increase in equity trading volumes and values − Average daily value traded up 80% YTD − Average daily number of trades up 65% YTD

Net foreign investment at an all time high – R56.5 billion YTD

Liquidity improved – 46.0% YTD

New inward dual listings

A number of new product launches − eg SATRIX Swix and SATRIX Resi in 2006, ITRIX range

Next steps - Foreign companies, ETFs, African listings, listed company forums- Settlement needs to move from T+5 to T+3 together with a reduction in

costs- Broad-based investor education initiatives to continue with strategic

partners

Page 9: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 9

AltX

AltX is for small and mid-sized companies

23 companies currently listed

− 8 new companies

− 1 company graduated to the Main Board

− 1 company migrated from Main Board to take advantage of better matched value proposition

17 designated advisors

Directors’ induction programme

Next steps

− More company listings in the pipeline

Page 10: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 10

Yield-X

Launched February 2005

− new market offering a broad range of exchange traded interest rate derivatives

Gaining market traction

Corporate bonds able to be listed on Yield-X from 1 July 2006

Next steps

- Target retail issuers

- Yield-X upgrade for retail trade to come

Page 11: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

© 11

Opportunity - Africa

Dual listing

− Costs

Expand liquidity pool

Access to “new” pool of investors

Access to “new” capital

Access to foreign capital

− Emerging market funds

Arbitrage opportunities

BEE (specifically South Africa)

Page 12: Copyright© JSE Limited 2006  JSE: A New Era Noah Greenhill GM: Marketing and Business Development.

Copyright© JSE Limited 2006 www.jse.co.za

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