JSE Partners up with Tradition to Deliver Select African Currency Futures

The Johannesburg Stock Exchange (JSE) has announced the addition of three new currency futures contracts which will provide investors in exotic currencies with the opportunity to trade the Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term rate between the South African Rand and the Zambian Kwacha, Kenyan Shilling and Nigerian Naira.

The offering of futures contracts in the region is particularly useful for companies which are trading with the above mentioned countries, providing them with an effective tool to hedge their exposure to the local currency markets.

JSE’s General Manager, Warren Geers, shared, “With Africa being a global investment destination it makes sense for the JSE as a major exchange player in Africa to be involved in providing appropriate products to mitigate currency risk and exposure when dealing in Africa.”

The JSE is delivering the new currency futures to the market in conjunction with Barclays Africa and Tradition Futures.

Lourens Harmse of Barclays Africa commented, “Our involvement with the listing of the African currency futures on the JSE further deepens Barclays Africa’s commitment to growing Markets participation in Africa. As part of our vision to be the ‘Go-To’ bank, we strive to give our clients superior Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and access to the continent through world-class and leading innovation.”

Andrew Gillespie of Tradition Futures explained in the company announcement, “It is a groundbreaking development to have a transparent, independent, well regulated platform to mitigate or assume FX risk in these African countries, against any other currency of their choice - that does not prejudice anyone, irrespective of size, domicile or nationality.”