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No worries Bricks
so the question is now is there an allotted amount of shares to the JSE or is there a company total thats available to both exchanges?
In the long run i dont suppose it matters but i am interested in the SP differential. does it ever move significantly of does it mirror within say 10% of the LSE ? ie: could it just be currency fluctuations and perceived risks on different exchanges ?
No thanks Highside I care for animals and I actually find the suggestion offensive, shows how your mind works I suppose. Just accept that if you criticise a poster for punctuation you really need to be foot perfect yourself. Another 'i' I see.
My apologies Highside it used to be called SETs …apparently it’s been upgraded to Millenium Exchange now…..”The JSE's fully automated (electronic trading) trading system is called the Millennium Exchange, which replaced the JSE TradElect system in 2012, which in turn had replaced the JSE SETS system in April 2007, which had replaced the JSE JET system in May 2002.”
Shedulike. I have said before i have no idea what your problem is but go and take it out on the cat or something. Its really nothing to do with me thanks.
BricksSA
That actually quite interesting because i didn't think EUZ was traded on SETS. If it is then your bank is buying on the LSE i would have thought.
Nice try Highside you could even learn to utilise the shift key when typing an 'I' if you want to be pedantic. If you keep putting your head above the parapet it will just continue to get blown off every time I'm afraid.
Top tip
Use a question mark after you ask a question like this
Why don't you ask Dan Smith, he should be able to provide a definitive answer ?
I go through my Bank who act as a broker and they in turn have a direct link to JSE. The system is called SETS which stands for secure electronic trading system and I buy and sell in real-time….but I do know there are some brokers you can sign up with who perform the same function. Try and google them :-)
@bricks can I ask what platform do use to trade on JSE I use interactive investor I can trade pretty much any platform but not JSE :(
Bricks I tried to transfer my shares across to JSE when the price skyrocketed over there and literally no one would let me do it. I must have contacted about 20 brokers here in the UK and all were reluctant. The only way was for me to personally fill a form in (can't remember the name of it) and then the whole process would have taken a few weeks before I'd have had access to my shares to sell.
I asked Dan when we consolidated whether I could transfer my shares from JSE to LSE at any point as I wanted to mitigate the risk of them closing the listing on the JSE if they ever wanted to as they had just closed ASX. He responded that I could do it through my broker as they allow cross border transactions. Hence why he said approximately 10% of the total shares are held on ALTX as it is now known and not the primary JSE exchange.
So one can in effect buy on one exchange and sell on another. This has happened before and will continue to happen as brokers have agreements in place to do this.
In answer to another question….the share price dropped 15% on JSE / ALTX the one day on very low volumes….but bounced back up on relatively high volumes the next day. I suspect it was purposely brought down to allow someone to buy in at lower rate.
The JSE price normally follows the same price of LSE and is based purely on forex rate.
If the price in London is 9.25 pence the share on JSE would be R1.80 more or less….it’s now R2.08 so a difference of approx 10% at the moment….not much in it though…fairly closely aligned.
Hope this helps. Best D. GLA
Why don't you ask Dan Smith, he should be able to provide a definitive answer. Top tip - ask about dual listings not 'duel'.
The Price on the JSE is driven by market risk, interest rates, Currency exchange rates, tax allowance and general tax rates as well a liquidity all of which are different to the LSE shares if its a duel listing, If however its a cross listing then the shares are inter tradable so should mirror each other pretty closely under similar LSE conditions.
Personally i can see no reason why these would be listed on the JSE unless at some point in the past an ASX/LSE company had merged with a JSE company and a condition was both listing would be retained in which case it would be a duel listing.
I don't think we got 100% to the bottom of this last time it came up, at least I know I didn't so if anyone has a definitive expert explanation please go for it. However as far as I understand it you would have to sell your shares on JSE and buy back on the LSE when the trade has been settled (unless you were prepared to commit additional cash before settlement). Assuming that is the case I still wouldn't agree with the statement that the 'SP for the JSE shares has little to do with the SP of UK listed shares' as discrepancies between the two create arbitrage opportunities for international traders meaning the exchanges should roughly equalise. Logically there are other factors that could mean an exact match isn't inevitable, an obvious example being the greater currency risk in SA (no offence intended), so if you had an urgent need to liquidise your holding it would generally be considered advantageous to have quick Sterling rather than quick Rand. It's a complex area and not something I know a lot about but 100% the SP's on the JSE and the LSE are closely related.
Is EUZ duel listed or cross listed with the JSE ? If its duel listed then the SP for the JSE shares has little to do with the SP of UK listed shares. The answer is probably in , can you buy on the JSE and sell oh the LSE ?
Haha, please Bricks. Yes, 10% rise after a 15% fall on Friday. So no, this means nothing.
Maybe news leaking that Rassie Erasmus has been appointed EUZ Director of PR.
Relatively high number of shares traded hands on JSE…bearing in mind only about 10% of issued shares are on JSE…nice steady rise though…10%.
https://www.moneyweb.co.za/tools-and-data/click-a-company/EUZ/