ZARX, the new stock exchange has arrived and, as an investor in shares, it’s nice to know there is another avenue down which I can trade. Even nicer to know trading is less expensive and quicker.
I don’t know if I’ll ever trade on the ZARX. I guess that depends on which companies list on it and how quickly I want to trade. Cost could also be a factor.
I did recall, though, that SA used to have two stock exchanges, the Johannesburg Stock Exchange (JSE) and the Union Stock Exchange. In my youth I was the ward of an aunt and uncle and the father of the uncle, had been a stockbroker on the Union Stock Exchange until he retired.
At the time, I had not yet discovered the terrain of stocks and shares, and was uninterested. But I did recall that there were two markets. And so, I asked myself what happened to the Union Stock Exchange?
In my youth I would have had to research in a library. Now I have the internet. Here I have been told that the Union Exchange was introduced as a rival to the JSE in 1933 and that it wound up in 1958 when its listed companies were merged into the JSE lists.
Again using the internet, I looked at the history of ZARX and was informed (I quote): ‘South Africa’s first, and until now, only bourse, the JSE, was formed in 1887 during the first South African gold rush.’
Oh well, the internet is quick but who said it was reliable?