JSE posts strong profit, still handles 99.7% of SA share trading despite new competition

Despite competition from new entrants like A2X, the JSE has maintained its market share, the company said in its half-year results on Tuesday.

The JSE still represents 99.7% of equity market value traded in South Africa.

In the six months to end-June, its revenue from equity trading increased by 9% to R260 million, with even stronger growth in revenue from equity derivatives trading (+13% to R83 million). The impact of market volatility “driven by global macro-economic events” bolstered its trading income.

The JSE’s total revenue grew by 11% to almost R1.4 billion, which helped to achieve 29% growth in its headline earnings per share.

Rising interest rates and growth in margin deposits say its finance income increased by 30% to R89 million.

Its general expenses increased by 11% to R282 million, and personnel costs increased by 3% to R302 million. But technology costs fell by 3% to R171 million after non-recurring costs for its mainframe migration in the previous year.

The JSE’s share price was up by almost one percent by midday on Tuesday, trading at R109.47, from R109.25 at the start of the year. news24.com