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First Play Then Trade - JSE Launches Virtual Trading Game
First Play Then Trade - JSE Launches Virtual Trading Game
Friday,14/06/2013|08:54GMTby
Adil Siddiqui
South Africa's main financial trading bourse, the Johannesburg Stock Exchange has launched a new trading game in an attempt to lure non-traditional investors to enter the world of share trading.
The Johannesburg Stock Exchange (JSE) has launched the country's first on-line virtual share trading game as Africa's largest economy attempts to attract a new breed of investors to its financial markets. Wannabe investors also get the chance to enter a competition and win US $6000 worth of funds to invest in the equity markets with a broker of their choice.
The virtual game comes with a virtual Rand1-million where users can build their investment portfolio, traders who build the most valuable portfolios will enter the competition and win a share of R60 000 in prizes to be deposited into a stockbroker’s account of their choice.
“We believe that the JSE Virtual Trading Game is a highly practical way to convert those who are interested in trading to take the next step and open their own accounts. The JSE recognises the role it has to play in promoting financial literacy as well as growing retail investment on the JSE. Investing on the exchange is not as intimidating or complicated as many people think,” says Takalani Nyelisani, Manager Retail Development at the JSE in a statement.
Promoting Financial Literacy
The exchange has been active in promoting financial literacy in a bid to increase retail investor participation, initiatives include; Power Hour sessions, investment education clubs, MyJSE Investment Day (900 people attended in 2012) in addition to free public seminars about investing.
In collaboration with KwaZulu-Natal Treasury, a government agency the exchange is pushing financial education among the country's youth. Ina Cronjé, Member of the Executive Council (MEC) for Finance in Kwa-Zulu Natal said about the initiative: “Financial literacy is a pre-requisite for the successful implementation of the numerous programmes initiated by government and the private sector for the social and economic upliftment of the nation, adding that it starts with managing one’s personal finance. The younger we start, the more chance we have to succeed. We must start to save and invest wisely, we applaud the JSE and our KZNFLA partners for this great initiative to bring our young people on board.”
Initiatives Elsewhere
Exchanges across the globe have been creating programmes to make investments and stock trading attractive for the common person. Australia's ASX provides a virtual trading game where investors can create their own portfolio with AUD $50,000. Pakistan's Lahore Stock Exchange has been holding seminars at domestic colleges in the city, the exchange held its second session in (October 2012) of Campus Outreach Program for the students of Professional Academy of Commerce where professionals from the exchange give lectures on, the stock market, money management and general economic principles.
FX and CFD Trading
South Africa has been one of the oldest and most established margin derivatives markets in the Africa region, heavy weights such as Saxo Bank and IG have local offices. Investors have been exposed to online trading terminals since the millennium, CFDs were first introduced to South African investors in the late 90's.
Spear heading local participation in the broker dealer space are; Global Trader and PSG Online, most firms, local and international, provide traders with online trading terminals.
Cape Town was home to the first FX conference for retail investors last December, where over 25 FX firms participated.
Africa is a key destination for firms looking at new opportunities as mature markets like the EU dry up. The African continent reached a record $2.2 trillion in total GDP this year according to findings by the African Development Bank, in 2000 its GDP was $600 billion.
The Johannesburg Stock Exchange (JSE) has launched the country's first on-line virtual share trading game as Africa's largest economy attempts to attract a new breed of investors to its financial markets. Wannabe investors also get the chance to enter a competition and win US $6000 worth of funds to invest in the equity markets with a broker of their choice.
The virtual game comes with a virtual Rand1-million where users can build their investment portfolio, traders who build the most valuable portfolios will enter the competition and win a share of R60 000 in prizes to be deposited into a stockbroker’s account of their choice.
“We believe that the JSE Virtual Trading Game is a highly practical way to convert those who are interested in trading to take the next step and open their own accounts. The JSE recognises the role it has to play in promoting financial literacy as well as growing retail investment on the JSE. Investing on the exchange is not as intimidating or complicated as many people think,” says Takalani Nyelisani, Manager Retail Development at the JSE in a statement.
Promoting Financial Literacy
The exchange has been active in promoting financial literacy in a bid to increase retail investor participation, initiatives include; Power Hour sessions, investment education clubs, MyJSE Investment Day (900 people attended in 2012) in addition to free public seminars about investing.
In collaboration with KwaZulu-Natal Treasury, a government agency the exchange is pushing financial education among the country's youth. Ina Cronjé, Member of the Executive Council (MEC) for Finance in Kwa-Zulu Natal said about the initiative: “Financial literacy is a pre-requisite for the successful implementation of the numerous programmes initiated by government and the private sector for the social and economic upliftment of the nation, adding that it starts with managing one’s personal finance. The younger we start, the more chance we have to succeed. We must start to save and invest wisely, we applaud the JSE and our KZNFLA partners for this great initiative to bring our young people on board.”
Initiatives Elsewhere
Exchanges across the globe have been creating programmes to make investments and stock trading attractive for the common person. Australia's ASX provides a virtual trading game where investors can create their own portfolio with AUD $50,000. Pakistan's Lahore Stock Exchange has been holding seminars at domestic colleges in the city, the exchange held its second session in (October 2012) of Campus Outreach Program for the students of Professional Academy of Commerce where professionals from the exchange give lectures on, the stock market, money management and general economic principles.
FX and CFD Trading
South Africa has been one of the oldest and most established margin derivatives markets in the Africa region, heavy weights such as Saxo Bank and IG have local offices. Investors have been exposed to online trading terminals since the millennium, CFDs were first introduced to South African investors in the late 90's.
Spear heading local participation in the broker dealer space are; Global Trader and PSG Online, most firms, local and international, provide traders with online trading terminals.
Cape Town was home to the first FX conference for retail investors last December, where over 25 FX firms participated.
Africa is a key destination for firms looking at new opportunities as mature markets like the EU dry up. The African continent reached a record $2.2 trillion in total GDP this year according to findings by the African Development Bank, in 2000 its GDP was $600 billion.
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