[South Africa] Absa ETFs list on A2X
11-07-2019 07:57:00 | by: Andrea Ayemoba | hits: 1162 | Tags:

Three of Absa Corporate and Investment Bank’s (Absa CIB) metal exchange traded funds (ETFs) become available for trade on A2X Markets today:

- NewGold (GLD)

- NewPlat (NGPLT) and

- NewGold Palladium (NGPLD).

These listings are in addition to their current listings on the Johannesburg Stock Exchange and the Namibian Stock Exchange. The issued share capital will be unaffected by their secondary listing on A2X.

A2X CEO, Kevin Brady commented, “The ABSA metal ETFs are the leaders in their field with almost R25 billion in assets under management. ETFs are experiencing significant growth due to their low cost and we are thrilled to include these ETFs in the list of securities available for trade on our platform.”

These ETF listings will bring the number of securities available for trade on A2X to 25 with a combined market capitalisation of over R2.4 trillion. A2X boasts listings from many key sectors, including media, mining, banking, property, FMCG, financial services, insurance, healthcare, telecommunications and now ETFs.

A2X is a licensed stock exchange which provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act. A2X began trading in October 2017 and has nine approved brokers that account for about 50% of market activity.