The world is changing fast and to keep up you need local knowledge with global context.
CEO of JSE Limited, Nicky Newton-King, says the bourse plans to retrench up to 60 staff in a bid to become more “nimble” and “cost-effective”.
The JSE says this is not in direct reaction to growing competition but rather because the exchange space is changing. The JSE has also cited a challenging macroeconomic environment.
Retrenchments are becoming increasingly common in South Africa. However, one wonders if those who are retrenched at the JSE could land up at the competition.
Smaller players like ZAR X have already started to trade, but the bigger competitor will be A2X, which seeks to list several top JSE listed companies on its platform. Interesting times lie ahead.