South African company ZAR X announced on Wednesday that it has been granted a stock exchange license by the Financial Service Board (FSB), the government’s financial regulatory agency. The license, which the company had applied for since July 2015, enables it to operate a fully-fledged, independent stock exchange that will compete with the JSE, which was established in the nineteenth century. Trading on the new ZAR X is expected to begin on September 1 2016. The aim of ZAR X is to make it simpler and cheaper for investors to trade, as their core values are simplicity, low-cost, transparency and agility. Their technology allows investors to trade using mobile devices such as smart phones. Read more on this here.
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