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Definition

The primary securities exchange in South Africa. The Johannesburg Stock Exchange, the futures and options markets and the bond market are all part of the Johannesburg Securities Exchange. There are now four other exchanges which have recently begun operating in South Africa and competing with the JSE - the 4AX, the A2X, the ZAR X and the EESE (Equity Express Securities Exchange). Of these the A2X, which has recently scored the secondary listing of Sanlam (the JSE's 14th largest company) is the most likely to threaten the JSE's dominance. The JSE is by far the largest exchange with around R15 trillion in transactions per annum. In June 2024, following the listing of Rainbow (RBO) the JSE had 282 listings - which is down from 600 listing in 2000 and more than 800 listings in the 1990s. In the 7 years between 2015 and 2022 the JSE had 18% fewer new listings, but that is comparable to other major stock exchanges which have also seen new listings decline over the same period with London down 19% and Luxembourg down 52%. On 15th November 2023 the Business Day reported that the JSE was allowing secondary listings of companies listed on the Hong Kong exchange (HKEX) in a bid to increase volumes. The exchange had a total market capitalisation of R19 trillion on 31st December 2023. It is also the largest stock exchange in Africa and the 18th largest in the world. The JSE has produced a comprehensive set of rules for listed equities which you can find at:
<a href="https://www.jse.co.za/content/JSERulesPoliciesandRegulationItems/EquitiesRules.pdf" target="_blank" rel="noopener">https://www.jse.co.za/content/JSERulesPoliciesandRegulationItems/EquitiesRules.pdf</a>
To find out more about the JSE go to their web site at <a href="https://www.jse.co.za" target="_blank" rel="noopener">www.jse.co.za</a>. The JSE itself is also listed on the JSE and its shares trade just like any other share. Consider the chart:
<img src="http://www.pdsnet.co.za/onlinecourse/images/JSEt_2024-02-21_055318.png" />
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<figure class="container-fluid">
<figcaption style="text-align: center;">JSE Share Price September 2018 to February 2024. Chart by ShareFriend Pro</figcaption>
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