JSE News - News

By: Origo Trading  11-11-2011
Keywords: Financial Services

The Johannesburg Stock Exchange (JSE) welcomes the indication in the Medium Term Budget Policy Statement

25 October 2011: The Johannesburg Stock Exchange (JSE) welcomes the indication in the Medium Term Budget Policy Statement that local investors will be able to trade in foreign domiciled companies where they were previously restricted by prudential limits and that the exchange will be able to include these companies in domestic indices.

Aiming to improve South Africa’s position as a financial gateway into Africa and facilitate cross-border transactions, National Treasury has decided that “inward-listed shares on the JSE will .. be classified as domestic assets and be included on the JSE indices, as agreed with the regulatory authorities. Steps will be taken to simplify procedures and reduce the cost of cross-border money remittances, particularly to neighbouring countries and the rest of Africa”. 1 In the past, the JSE could not include foreign companies in the exchange’s indices, as local investors weren’t able to buy the shares without restriction. This in turn limited the amount of local activity in the foreign companies and hence limited the JSE's ability to position itself as an investment destination. Once effect has been given to today’s policy direction, South African asset managers will be able to invest more freely in these companies, using the JSE to do so. “We very much appreciate the thoughtful and careful manner in which National Treasury and the Financial Services Board have engaged on this issue, which clearly has an important impact on the markets, says JSE CEO Russell Loubser. “The positive move provides a further boost for the reputation of the country’s markets, by enabling the JSE to more aggressively pursue a wider range of investment possibilities. It will take time to work through the practical steps to implement this and we will make an announcement in due course.” 1 Page 23,  Note to Editors: Please review box on page 17 of the full Medium Term Budget Policy Statement document, which relates to the above. Please find this at   FOR FURTHER INFORMATION PLEASE CONTACT:

Michelle Joubert
Head of Investor Relations
Tel: +27 11 520 7080

World’s Exchange Leaders Meet in Johannesburg

(12 October 2010, Johannesburg) Leaders from more than 60 of the world’s foremost exchanges gathered in Johannesburg, South Africa, this week for the 51st General Assembly and Annual Meeting of the World Federation of Exchanges (), the association of regulated stock, futures, and options exchanges. WFE develops and promotes high regulatory standards in markets to assure their transparency, fairness, and certainty of execution. Ronald Arculli, WFE Chairman and Chairman of , said: “Over the course of the past year the WFE and its member exchanges continued to work with regulators and policymakers to facilitate a more rational international approach to market oversight and financial stability. We are pleased to see more exchanges expressing their views on the important issues such as the regulation of OTC markets, and we hope to maintain open dialogue both inside and outside of the industry. I appreciate the support we receive from WFE members as we strive to be a positive force in the reshaping of the financial landscape within a new regulatory framework.” “Today the exchange is the heart of capital markets and a well functioning economy,” says Russell Loubser, CEO of the JSE and Director and Treasurer of the WFE. “It is a privilege to host our colleagues from exchanges around the world in South Africa to discuss the issues of our day.” Annual Meeting Agenda South African Minister of Finance, Pravin Gordhan will be the keynote speaker. Additional guest speakers include; Prof. Mervyn King SC, Chairman, International Integrated Reporting Committee ; Mr. Joseph Gawronski, President & Chief Operating Officer, Rosenblatt Securities; Mr. Jeremy Grant, Editor FT Trading Room, Financial Times London. Topics being reviewed by exchange industry leaders at the Annual Meeting include: • Regulatory Winds: What is happening with Dodd-Frank and MiFID II?: facilitated by Jeremy Grant, Editor, Financial Times Trading Room; with panelists Ronald Arculli, Chairman, Hong Kong Exchanges and Clearing; William J Brodsky, Chairman & CEO, Chicago Board Options Exchange; Antonio J. Zoido, Chairman, BME Spanish Exchanges; Philipp Härle, Partner, McKinsey & Co; Dario Luna, Chief of Staff, Finance and Public Credit Under Secretary, Mexican Ministry of Economics; Professor Peter Gomber, University of Frankfurt; Bert Chanetsa, Deputy Executive Officer- Investment Institutions, Financial Services Board.

• Interest rate products: facilitated by Russell Loubser, Chief Executive Officer, Johannesburg Stock Exchange; with panelists Huseyin Erkan, Chairman & Chief Executive Officer, Istanbul Stock Exchange; Juan Pablo Cordoba, Chief Executive Officer, Bolsa de Valores de Colombia; Thuto Shomang, Deputy Director General: Asset and Liability Management, South African National Treasury; Tony Weeresinghe, CEO Millennium IT; and Director of Global Development, London Stock Exchange Group

• Exchange business models: facilitated by Joseph Gawronski, President and Chief Operating Officer, Rosenblatt Securities; with panelists Ester Levanon, Chief Executive Officer, Tel Aviv Stock Exchange; Magnus Böcker, Chief Executive Officer, Singapore Exchange; Luis Téllez, Chairman & Chief Executive Officer, Bolsa Mexicana de Valores; Ravi Narain, Managing Director and CEO, National Stock Exchange of India; Mark Makepeace, Chief Executive Officer, FTSE.

• Fragmentation: facilitated by Christian Katz, Chief Executive Officer, SIX Swiss Exchange; with panelists Atsushi Saito, President & CEO, Tokyo Stock Exchange; Thomas Kloet, Chief Executive Officer, TMX Group; Peter Hiom, Deputy Chief Executive Officer, ASX; Adrian Blundell-Wignall, Special Advisor to the Secretary-General for Financial Markets, Deputy Director for Financial and Enterprise Affairs, OECD.

• Innovation in our businesses: facilitated by Steven Sears, Senior Editor, Barron’s; with panelists Tim Wildenberg, Head of Alternative Execution, Citibank; Dominique Cerutti, President & Deputy CEO, NYSE Euronext; Meyer S. Frucher, Vice Chairman, NASDAQ OMX; Sam Coady, Managing Director, Corporate finance, CME Group; Zhang Yujun, President, Shanghai Stock Exchange.

This year’s “WFE Award for Excellence” is being presented to the Chairman of the International Integrated Reporting Committee (IIRC), Professor Mervyn King, in recognition of his work in chairing national commissions on corporate governance reform () and in leading the development of a new form of corporate reporting, enhancing South Africa’s business competitiveness. The 51st Annual WFE General Assembly and Annual Meeting marks the first instance that all panel discussions at the annual meeting will be webcast live, allowing interested parties to view every session remotely. Webcasts of the panels will be available at the  for the event, with the ability to watch in real-time or post-panel at the  for a week following the conference, after which time the sessions will be archived on YouTube.  will also be live tweeting about many of the key happenings of the Annual meeting using a dedicated hashtag, opening another avenue of remote participation in the conference. The addition of these new mediums is expected to increase awareness and promote an open, global dialogue with the exchange community. New WFE Member Exchanges
The WFE General Assembly approved the accession to membership of GreTai Securities Market, RTS Stock Exchange, and Taiwan Futures Exchange (TAIFEX). With these additions WFE membership now includes 55 regulated exchanges. WFE Annual Meeting 2012
The next WFE Annual Meeting will be hosted by Taiwan Stock Exchange on 14- 16 October 2012. WFE Board of Directors 2012

Ronald Arculli, Hong Kong Exchanges and Clearing Vice Chairman
Xavier Rolet, London Stock Exchange Group Chairman of the Working Committee
Thomas Kloet, TMX Americas
Edemir Pinto, BM&FBOVESPA
Craig Donohue, CME
William J. Brodsky, CBOE
Luiz Tellez, Bolsa Mexicana de Valores Asia-Pacific
Geng Liang, Shanghai Stock Exchange
Ravi Narain, National Stock Exchange of India
Atsushi Saito, Tokyo Stock Exchange
Kim Bongsoo, Korea Exchange Europe - Middle East - Africa
Andreas Preuss, Deutsche Boerse Group
Russell Loubser, JSE Limited
Antonio J. Zoido, BME - Spanish Exchanges
Huseyin Erkan, Istanbul Stock Exchange At large
Duncan Niederauer, NYSE Euronext
The World Federation of Exchanges is the trade association for the operators of regulated financial exchanges. With 52 members from around the globe, the WFE develops and promotes standards in markets, supporting reform in the regulation of OTC derivatives markets, international cooperation and coordination among regulators. WFE exchanges are home to more than 45,000 listed companies. Media Contacts:
• WFE: Peter Clifford, +33 (0) 1 58 62 54 01, ;  Sibel Yilmaz +33 (0) 1 58 62 54 00,  
• JSE : Russell Loubser, +27 (0) 11 520 7002; Michelle Joubert, +27 (0) 11 5207080,  
• Intermarket Communications: Andrew Yemma, + 212-754-5450,  or Ashley Schmidt, +212-754-5438,  

Keywords: Financial Services

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