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The South African Futures Exchange (Safex) is the
futures exchange A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity o ...
subsidiary of
JSE Limited JSE Limited (previously the JSE Securities Exchange and the Johannesburg Stock Exchange) is the largest stock exchange in Africa. It is located in Sandton, Johannesburg, South Africa, after it moved from downtown Johannesburg in 2000. In 2003 ...
, the Johannesburg-based exchange. It consists of two divisions; a financial markets division for trading of equity derivatives and an agricultural markets division (AMD) for trading of agricultural derivatives. Safex was formed in 1990 as an independent exchange and experienced steady growth over the following decade. In 1995 a separate agricultural markets division was formed for trading of agricultural derivatives. The exchange continued to make steady progress despite intensifying competition from international derivative exchanges and
over-the-counter Over-the-counter (OTC) drugs are medicines sold directly to a consumer without a requirement for a prescription from a healthcare professional, as opposed to prescription drugs, which may be supplied only to consumers possessing a valid prescr ...
alternatives. By 1997 Safex reserves have grown sufficiently to allow a significant reduction in the fees it levies per future or options contract. Consequently, all fees were reduced by 50 per cent that year and in the changes on allocated trades were removed. In 2001 the exchange was acquired by the JSE Securities Exchange, with the JSE agreeing to keep the Safex branding. The exchange is a Self Regulatory Authority and exercises its regulatory functions in terms of the Financial Markets Control Act, 1989 and its rules. The Exchange, in turn, is supervised by FSB.


Historical development


See also

* Alternative Exchange *
Bond Exchange of South Africa The Bond Exchange of South Africa (BESA) was a South African bond exchange based in Johannesburg. It was acquired by the JSE Limited in 2009, and rebranded as the JSE Debt Market. The entity, now through the JSE Limited, operates and regulates t ...
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Johannesburg Stock Exchange JSE Limited (previously the JSE Securities Exchange and the Johannesburg Stock Exchange) is the largest stock exchange in Africa. It is located in Sandton, Johannesburg, South Africa, after it moved from downtown Johannesburg in 2000. In 2003 ...
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List of futures exchanges This is a list of notable futures exchanges. Those stock exchanges that also offer trading in futures contracts besides trading in securities are listed both here and the list of stock exchanges. Africa Kenya * Nairobi Securitie ...
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List of stock exchanges This is a list of major stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and in the list of futures exchanges. There are sixteen stock exchanges in the wor ...
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List of African stock exchanges There are 29 exchanges in Africa, representing 38 nations' capital markets. 21 of the 29 stock exchanges in Africa are members of the African Securities Exchanges Association (ASEA). ASEA members are indicated below by an asterisk (*). The Eg ...
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South African Institute of Financial Markets The following is a list of securities examinations and the organizations that offer them. Africa *The Securities Industry Training Institute East Africa (SITI) was conceptualized in 2008 to standardize and administer market education for the Ea ...


External links


Safex
www.safex.co.za

www.quantonline.co.za Finance in South Africa Companies based in Johannesburg Commodity exchanges Futures exchanges {{SouthAfrica-company-stub