The Johannesburg Stock Exchange (“JSE”) located at 1 Exchange Square, 2 Gwen Lane, Sandton, Johannesburg, South Africa. The JSE offers secure, efficient primary and secondary capital markets across a diverse range of securities, supported by our post-trade and regulatory services. We are the market of choice for local and international investors looking to gain exposure to the leading capital markets in South Africa and the broader African continent.

The JSE is currently ranked the 19th largest stock exchange in the world by market capitalisation and the largest exchange in the African continent.

The Johannesburg Stock Exchange located at 1 Exchange Square, Sandton, Johannesburg, South Africa

History

The JSE was formed in 1887 during the first South African gold rush. Following the first legislation covering financial markets in 1947, the JSE joined the World Federation of Exchanges in 1963 and upgraded to an electronic trading system in the early 1990s. The bourse demutualised and listed on its own exchange in 2005.

In 2003, we launched an alternative exchange, AltX, for small and mid-sized listings, followed by the Yield X for interest rate and currency instruments. The JSE then acquired the South African Futures Exchange (SAFEX) in 2001 and the Bond Exchange of South Africa (BESA) in 2009. Today we offer five financial markets namely Equities and Bonds as well as Financial, Commodity and Interest Rate Derivatives. ​​​​

Our Markets

South Africa has mature capital markets that serve the domestic economy and the wider continent. As one of the world’s 20 largest exchanges by market capitalisation ($1,007bn at end-2013) and the largest exchange in Africa, the Johannesburg Stock Exchange strives to offer secure, efficient primary and secondary capital markets across a diverse range of instruments, supported by cost-effective services.

Equity market

While a number of heavyweights like British American Tobacco (BAT), SABMiller, GlencoreXstrata and BHP Billiton account for a large share of the market, The Exchange​ caters for a diverse variety of offerings. There are almost 400 companies listed on The Exchange across the Main Board and AltX.

The JSE index series is called the FTSE/JSE Africa Index Series, and is a partnership between JSE and the FTSE Group. The two benchmark indices are the FTSE/JSE All Share Index, covering 99% of market capitalisation, and the FTSE/JSE Top 40 Index which tracks the top listings in a representative spread of sectors.

South African bond market

South Africa’s interest rate market is the largest on the continent. The majority of South African bonds are issued government and state owned entities but the number of corporate bonds issued is growing.

The JSE also offers a variety of Bond-based Derivatives, including Bond futures, Forward-rate Agreements, Vanilla Swaps and standard bond options. The Exchange hopes to attract new bond issuers to the bourse, seeking to partner with other African exchanges with a dual-issuance model. In November 2012, the Namibian government floated a R850m ($78m) 10-year bond priced at 8.26%, the first tranche of a R3bn ($275.2m) programme, and the JSE hopes to encourage other African countries to list debt on The Exchange.

Current Recommended: The Johannesburg Stock Exchange (“JSE”)