JSE aims to re­main ahead of the field

Weekend Witness - - Money - DAVID CARTE

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.

— Money­web.

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