JSE aims to remain ahead of the field
THE JSE was rated the world’s best securities exchange in the World Competitiveness Report, but incoming CEO Nicky Newton-King won’t be resting on her laurels.
The JSE has spent R2 billion on information technology in the past five years. That spending will continue as the JSE systems, security and surveillance head the field.
A relaxed and personable Newton-King takes the helm of the JSE next January after being deputy for eight years. A lawyer by profession, she has worked at the JSE for 15 years, serving under Roy Andersen and Russell Loubser.
“Under Russell, we have been fixing things for the entire period. Securities trading and regulation is evolving so fast there is no way the JSE can stand still.”
Another big priority will be linking the JSE into world and African markets. “The key question is how to increase participation, and particularly foreign participation, in our markets. That does not necessarily mean getting into the merger and acquisition race currently in vogue. Rather, we need to find ways to improve links between markets so as to make it easier for foreign clients to access our markets.”
Already the JSE is attractive to foreigners, whose net purchases of equities last year were R36,4 bn, from R75,8 bn in 2009. Last year, foreign investors picked up a net R58,6 bn of bonds on the JSE.