LXM expands African research network with Afrifocus Securities
LXM has announced today a new 15a-6 chaperoning partnership with South African research provider Afrifocus Securities, further expanding its market-leading foreign broker dealer (FBD) platform’s capabilities. This addition will increase LXM’s global coverage to 12 FBDs covering over 30 countries and 700 companies.
Afrifocus, a member of South Africa’s JSE and ZARX exchanges, is a specialist in investment research covering mid-capitalisation stocks, an area that is often overlooked by regional competitors.
Harold Warren, Global Head of Emerging and Frontier Markets at LXM, said:
“We have had huge interest from investors in South African small and mid-cap companies in this area of our business and this is why Afrifocus’ targeted approach makes them an ideal partner. The partnership deepens LXM’s global capabilities of providing US and global institutional investors with access to respected and established research providers, as we continue our expansion across Africa and markets worldwide.”
Eugene van Heerden, Head of Sales and Distribution at Afrifocus, said:
“We look forward to working with LXM in our endeavours to develop strong relations with their established US origination network. Our domestic clients will now be able to tap into LXM’s large liquidity pool, facilitating trading across many global emerging and developing markets.“
The partnership will allow Afrifocus to expand its research capabilities by working and sharing information with other members in LXM’s FBD network, adding substantial value across those markets.