Yes, diagrams of venues with dimensions and layout options are available from the JSE on request. Should you require these, please email Carol Crozier on [email protected].

Consult the Venue Gallery page of the website for photographs.

Yes, refreshments will be provided during every course.

Single Stock Future (SSF)  are listed and traded on the JSE. PSG Online is the broker that will be doing the trade on the JSE on behalf of the client. PSG is one of about 100 brokers through which market participants can trade on the JSE. All trading on the JSE has to take place through a broker.

All venues at the JSE are indoors.

On our Can Do products we do offer digital options (much the same as binary options) but on Shares only.

A company is entitled to issue as much debt as the market will take. There are many listing requirements relating to issuing debt, just as there are for issuing equity.

We do have zero coupon government bonds listed. There are four government bond related ETFs but they are not the zero coupon type. Click here for more information about ETFs.

The chief benefit is that you will have a voice and a vote in the running of the company. You will be able to attend meetings and make your feelings known. By speaking out, and asserting your right to be kept informed of developments, you may be able to influence direction and policy.

Your status will shift from consumer and observer to active role-player. You’ll be able to take a direct, personal interest in the company, its products and services, and the industry in which it operates. You’ll share its vision and its goals, along with any dividends that might come your way. No matter how small your shareholding, you’ll be more than an investor.

The JSE does allow professionally printed signage in venue areas. These signs can be used with easels or in sign stands. Banners may be hung from the skirting of registration desks, but no banners may be hung along the walls of the public areas of the reception area or foyer. Nothing can be placed over exit doors or positioned to conceal or obscure any exit.

Yes. Now that trading has shifted from the floor to the computer network, online dealing is a natural and logical extension to the services offered by a growing number of member firms.

You’ll be able to visit their websites, open a password-protected account, check prices, and buy and sell Shares by email, often at a discounted brokerage fee. You’ll pay for your Shares by bank transfer, or a debit from a holding account set up with the member firms. 

While this type of online dealing should not be confused with online trading – for obvious reasons, you will not have access to the JSE’s network – it offers convenient access to stockbroking facilities.

They can have a share trading account through a broker. It is up to the broker handling the individual’s account to be aware of any misdealing by that individual/client. If an irregularity is picked up by the JSE, then the broker firm will have to answer to that.

You can buy Satrix ETFs through a stockbroker or directly from Satrix, using its investment plan.

The JSE does not sell shares directly. You have to go through a  JSE registered stockbroker 

There are a lot of good books about investing. For the SA-based professional, we’d recommend The Effective Investor by Franco Busetti. 
For beginners, we would recommend Shares – A Buyers Guide 2009 by Alec Hogg. You can email [email protected] for an order form.

Defence X is not part of the JSE.

We do not give financial support to individuals in order to trade.

Yes, we have a History CD available. Also, the JSE provides historical data on request and considers each request on a case by case basis, with the overall charge based on the value of the data, amount of data required and the effort involved in producing the data.

Not at all.There’s nothing to prevent the smaller investor from staking a claim to a share of a public company. Some member firms (stockbrokers) choose to deal only with institutions or larger investors. But you should have no trouble finding a member firm that is prepared to take on a client with as little as R5000 to invest. The formulA: start small, invest wisely, stay the distance.

Click here to find out more about the JSE’s current vaccancies, and the JSE Empowerment Fund (JEF) Bursary here!

The JSE does not manage unit trusts. Asset managers and investment banks such as Allan Gray, Absa, Stanlib, OMIGSA and SIM are some of the registered financial institutions that manage different types of unit trusts, depending on their risk profiles. They have different minimum investment requirements. Visit their websites for more information.

Find out more about JSE bursaries     

Yes, the JSE offers three Company Listings training courses:

• Get a comprehensive overview of the JSE Listings Requirements
• Brush up on JSE Listings Requirements
• Amendments to the JSE Listings Requirements

Yes, the JSE offers four Investor Relations training courses:

• The ABC of Investor Relations
• Master Class in Investor Relations
• How to turn SENS announcements into best practice releases
• Investor Relations and the Chief Financial Officer

Yes, the JSE offers a Media Seminar on the Rules of Engagement, as well as media training that can be customised to suit your company’s specific needs.

The JSE does have secure parking available. You will be advised of parking arrangements prior to attending the course.

If the function is scheduled between 09:00 and 17:00 the JSE will provide 5 (five) parking bays on the Premises. For events scheduled after 17:30, the JSE will provide parking in the JSE basement on a first-come, first-served basis. There is additional parking in adjacent buildings so that all guests are able to park in designated parking areas.

Anybody can subscribe to data through a data vendor.

Unfortunately, we currently are not offering any internships or learnerships.

• Equity derivatives market;
•  Agricultural derivatives market;
• Interest rates markets and;
• Currency market

ZAR 500 million

You become a shareholder by buying shares in a company. You can do this through a      JSE registered stockbroker

You can find a list of the companies listed on the Main Board here:

Create your own JSE online account.

You can invest in ETFs through a stockbroker, an investment plan, etfSA or itransact, all of which require a fee to be paid.

Trading is difficult and requires skill and patience. A steady performance of 10% a day is not really possible. To generate returns of 10% you would have to risk a significant amount of your capital each day. You would also use instruments such as Futures, which provide leverage. 

Trading is like most things: the more effort you put in and the better you plan, the higher your chances of success.

Let’s have a quick look at the maths. If you started with R10 000, then by making 10% a day and compounding this over the year of about 250 trading days, you would have R222 trillion and change by the end of the year. This would be much bigger than the entire stock market.

If you started with R10 000 and made just 1% on your capital every day, which is much closer to being possible, your R10 000 would be about R120 000 by the end of the year. That is the incredible power of compounding interest which makes stock market investing so appealing. This is a more feasible return but would still make you one of the best-performing traders in history.

The JSE is committed to upskilling and developing future leaders of SA.

As the great Nelson Mandela said, “education is the most powerful weapon which you can use to change the world.” In this spirit, the JSE Empowerment Fund (JEF) was established to support students as they strive to reach their academic goals. The JEF offers bursaries to previously disadvantaged students in their 2nd and 3rd year or post-graduate (Honours) level of studies.

• Click here to apply on our JSE Careers page
• Click here to apply on Pnet

Preferred Suppliers offer photography, specialised audio-visual, catering, décor and flower services. You would contract directly with these Preferred Suppliers.

To practise as a broker under a financial institution you need to complete the exam offered by the South African Institute of Financial Markets.http://www.saifm.co.za/
You can also find out more about different categories of stockbroker here

Useful qualifications could include a commerce degree and a CFA (chartered financial analyst) credential. You need to write the Registered Persons Examinations run by the South African Institute of Financial Markets. These include:

• Regulation and Ethics of the SA Financial Market
• Introduction to Financial Markets
• The Equity Market
• The Derivatives Market
• Agricultural Products Market Dealers Exam
• The Bond Market
• The South African Money Market
• Regulation and Ethics of the SA Financial Market
• The South African Forex Market; and
• BESA Rules.

There are also exams for Strate Compliance Officers, JSE Settlement Officers and the JSE Equity Trader (TradElectTM) Exam.

You could visit your bank and ask an investment consultant to conduct the necessary transactions on your behalf. But the more common route is to go directly to one of the many member firms. Using the sophisticated JSE trading system, your stockbroker will buy or sell Shares on your instructions. Alternatively, you could open a managed account with the stockbroker and, for a fee, he or she will decide when and what to buy or sell for you. In either case you will be charged a negotiated brokerage fee, plus VAT and applicable duties.

Aside from acting as an intermediary between the stock exchange and the investor, a stockbroker will also offer all the advice, guidance and assistance required to take you through what may seem a daunting and intimidating process. Which makes it all the more essential to choose the right stockbroker for your individual needs and investment goals.

You need to go through a JSE Commodity Derivatives Member

In much the same way as you choose a good lawyer, doctor, estate agent, or other professional. Seek advice, solicit opinions, ask for references, and then make up your own mind according to what kind of investor you plan to be. Some stockbrokers define a “small investor” as one with less than R1m to invest; others welcome the minnows as well as the giants. Some focus on specific sectors of the market, such as mining; others spread their interests and options across the range. Some offer in-depth research and consultation for a higher brokerage fee; others offer discount rates for snappy advice and instant dealing. 

A seasoned stockbroker with a good track record can become a powerful partner in the pursuit of wealth. In order for your stockbroker to buy Shares on your behalf you will be required to have sufficient funds in your stockbroking account to pay for them. On completion of a transaction you will receive confirmation from your stockbroker that the trade has taken place and that the share will be registered in your name and kept electronically on your behalf.

An instruction to sell Shares will be acted upon only once your stockbroker is satisfied that shares are held electronically on your behalf.

The JSE displays 15-minute delayed prices for free, here. Real-time data and information is paid for through our data vendors.

You must go through a JSE registered stockbroker . They will advise you on your best options.

Begin investing
First you need to open a trading account with a stockbroker. Click here for a complete list of brokers. 

If you want the broker to manage your Shares for you, you must open a managed account. But if you want to manage your Shares yourself on the internet, ask for an online share trading account.

You can find out more about what a trading account is here, and about the process of opening a trading account here. To learn more about the different costs that brokers charge, click here for comparative cost and service offering information for online share trading (please note that the information may be slightly outdated).

A broker will be able to guide you in determining what investment option suits you best. It is important to understand the risks involved, so be sure to ask your broker about them.

Please remember that all transactions on our exchange occur through a broker, so you should be sceptical of offers that “cut out the middle man”.

Online share trading

Most of the brokers focused on individual investors offer a simulation account on their website where you can test their trading platform without spending money. It is not necessary to buy software in order to trade on the JSE. Your broker should give you access to trade on their website.
 

Education

Brokers regularly hold seminars and workshops on the basics of the Stock Market and Shares, so please visit their websites. The JSE also holds regular showcases. 
 

ETFs

If you’re not sure about Individual Shares, consider investing in Exchange Traded Funds (ETFs). They are ideal for the first-time investor as they offer a low-cost investment with low risk. An ETF allows you to invest in a wide variety of Shares, Bonds or Commodities through a single “share” or “unit”. ETFs can offer you ownership in the Top 40 companies, property, resource companies or physical gold, among many other things. ETFs can be bought and sold just like Ordinary Shares.

Please see the information on ETFs below:
 

• How to invest in ETFs
• List of ETFs (all the ETF providers’ websites are included in this document – but it excludes Nedbank’s BGreen ETF)
• ETF brochure
• ETFs a piece of cake
• Introduction to ETFs

There are currently four ways to invest in ETFs:
 

• 1) Contact a stockbroker. (The stockbroker you decide upon is entirely up to you. To help you with your decision, try to find out what services each stockbroker can provide you, whether the services meet your needs and what their respective costs are.)
  • a. You’ll have to open an account with the broker you’ve chosen
  • b. You’ll be able to invest in Shares and ETFs and the broker will be able to offer you advice
  • c. Costs are slightly higher because of this advantage
• 2) ETF provider’s investment plan – contact the ETF providers directly.
  • a. You’ll only be able to invest in ETFs
  • b. Costs are lower than going through a stockbroker, but you won’t receive any advice on your investment
  • c. With an investment plan you’ll be able to invest a minimum of R300 a month or a R1 000 lump sum
• 3) etfSA online platform, which allows you to buy and sell ETFs and offers you additional information such as performance figures of each ETF. Here is their website: www.etfsa.co.za
  • a. You’ll only be able to invest in ETFs and not individual Company Shares
  • b. Costs are very similar to the ETF providers’ costs
  • c. An investment plan/investor scheme is also offered by etfSA where you’ll also be able to invest a minimum of R300 a month or a R1 000 lump sum
• 4) itransact also offers an online platform specifically designed for the financial advisor. So you’re always able to consult with a financial advisor for some additional advice: www.itransact.co.za
  • a. Your financial advisor can invest on your behalf
  • b. An investment plan is also available through them
  • c. You’re able to invest in ETFs, ETNs and ETF wrap funds, through their accredited financial advisors.

A JSE registered stockbroker would be the best person to speak to.

You can download the step-by-step guide to opening a brokerage account here.

Register for Virtual Trading.

You can sign up for a free 30-day trial of the Virtual Trader.

A stockbroker will be able to answer this question for you.

It may be difficult for an investor to know when a company is about to be liquidated. However, you may make use of public information such as financial reports and efforts by the company to raise capital. It would be in your interests as an investor to research why the company would need to raise capital.

Through an investment plan you can invest a minimum of R300 a month or a R1 000 lump sum. Brokers charge different fees so you would need to investigate what those are before you open an account. 
You can also invest directly through an ETF provider and not a stockbroker. It’s cheaper but they won’t provide you with an investment plan like a stockbroker will. 

You can find out more about ETFs at www.etfsa.co.zaor www.itransact.co.za. 

Most ETFs pay dividends, just check with your broker. You can choose to have your dividends paid into your account, or you can reinvest them back into your portfolio. However, some ETFs only offer you a total return option, which means your dividends are paid directly back into your investment.

Foreign exchange “never sleeps” and because the currency markets are large and liquid, they are believed to be the most efficient financial markets. The foreign exchange market is not a single exchange, but a global network of computers connecting participants from all parts of the world.

The Currency Futures Market is a platform that the JSE hosts, but the forex and stock markets operate independently. Different rules apply to the two markets. Although you can trade independently on the forex market, you can also do it through your stockbroker. To trade on the stock market, you have to use the services of a stockbroker.

Default fund contributions are determined based on the 3 month average initial margin of each clearing
member.

Brokers have high-performance jobs in a demanding industry. They earn well, and bonuses depend on the accuracy of their advice. To be an analyst, you probably need a university degree with qualifications such as finance or engineering.

ZAR 100 million

Once daily

Learning to tell good prospects from bad on the stock market is a skill that requires a lot of insight, hindsight and foresight, none of which can be acquired without doing your homework. 

The best advice in the world is no substitute for legwork and research, whether it’s reading the business papers, studying the annual reports, surfing the Internet, talking to your stockbroker, or picking up the phone and quizzing a chief executive about the company’s plans for a merger or a listing. You’ll need to monitor prices and keep in touch with trends, not only in business but also in politics and society, not only at home but also in the world. 

What industries are ready for the future? What industries are mired in the past? What industries are ready to make a comeback? An informed investor is a successful investor. 

An uninformed investor, acting on impulse, speculation and rumour, can also be a successful investor. But not for long.

There are three ways to invest on the JSE from outside SA: through your local stockbroker, through your bank or through a South African stockbroker.

It is difficult to compare the charges for investing between brokers and banks, and the best way to find out is to ask a few brokers to compare charges. However, if you are a beginner investor, and if you are investing under R1 000 a month, ETFs are a great way to go. What about having a look at a few ETF provider sites to see what you prefer? It is also a great idea to consult a financial advisor; you can find one at your bank, for example. Here are a few places to look for information on ETFs:www.etfsa.co.za.

It depends on what you invest in and on supply and demand. If you invest a lump sum, the investment fee may be lower, but many people invest in monthly instalments to force themselves to save. Instalments may also be less risky, but you could miss out on capital growth and dividends that would have come from a lump sum. You can pay monthly instalments on certain investment options only, such as ETFs. Ask your broker for advice.

Yes, you can. You will need to look for online brokerages in your country with operations in South Africa.

Yes, you can. You will need to look for online brokerages in your country with operations in South Africa.

If you are opening an account online through your bank, you don’t need advice from a broker. However, the bank acts as a broker on your behalf so that you may complete the transaction. Banks will charge their clients a fee for opening an account. Regarding advice, you will need to check with your bank, but most banks will specify on their websites if a fee is involved.

Overnight call deposits and fixed deposits with commercial banks

As an individual investor you need to make sure you equip yourself with the best tools to make informed investment decisions. Whether you use fundamental or technical analysis techniques  is entirely up to you.

That information is helpful but is not absolutely necessary, particularly when you are using a broker. The important thing is to make sure you have good advice before investing. You can select a general unit trust or listed fund so as to reduce your risk.

No. You don’t need any software to invest on the JSE. The JSE doesn’t sell any such software, so anyone who suggests you should buy it is not endorsed or authorised by the JSE. Many of the people trying to sell this kind of software say you can use it to invest directly with the JSE. That is incorrect information. The only way you can invest with the JSE is to open an account with a stockbroker. Usually, it is free to set up the account. Normally, you pay an administration fee to the stockbroker every month after you have set up the account. 

A stockbroker can manage your money for you. They can also allow you to use their facilities to manage your own money. People see this as a direct method of investing on the JSE, but actually, you are still investing through the broker, even though you are making your own decisions about what and when to buy and sell.

If you would like to see a list of stockbrokers, click here. A JSE Equities member is authorised to perform trading and investment services. Stringent requirements have to be met to qualify as a JSE Equities member.

Investing on the stock market is not a way to get rich quickly, with no effort. It actually takes a lot of time, effort and knowledge to make a profit on the stock market. If you want to manage your own investments, you will need to spend a lot of time on it and study the market hard. A quick training course won’t do that for you.

You can sell your Shares right after buying them. You don’t have to hold them for any minimum time. Your broker or financial advisor will be able to give you advice on how long you should hold onto your shares.

Through an investment plan you can invest a minimum of R300/pm or a R1 000 lump sum. Brokers charge different fees so you would need to investigate what those are before you open an account. If you are considering investing in ETFs then you can go directly through an ETF provider and not a stockbroker. It’s cheaper but they won’t provide you with an investment plan like a stockbroker will. You can find out more on ETFs here:www.etfsa.co.za or www.itransact.co.za

Most ETFs pay dividends, just check with your broker. You can choose to have your dividends paid into your account, or you can reinvest them back into your portfolio. However, some ETFs only offer you a total return option which means your dividends get paid directly back into your investment.

London School of Investment is not a stockbroker and it is not part of the JSE. If you are looking to locate a stockbroker, you can find one here:

You don’t need to go through any school or trading organisation. You can trade through your bank or a broker. You only need to pay trading fees and you don’t need any special software or upfront fees for that.

Subscribe to JSE data

The easiest way of obtaining JSE data without connecting directly to the JSE would be to contact a registered data distributor or a stockbroker. Please consult our data distributor list for a list of data distributors or our “Locate a Broker” section for a list of stockbrokers.

Obtain historical Share prices/data

The JSE provides historical data on request and considers each request on a case by case basis, with the overall charge based on the value of the data, amount of data required and the effort involved in producing the data. Please forward your request through to [email protected].

Receive SENS (market announcements) data in my personal capacity

Please consult our data distributor list and a registered data distributor will be able to assist you with your request.

Subscribe to/redistribute JSE data

Please contact the Market Data division and tell your nominated account officer what data you require. The IPS division will then guide you in the process to follow and advise you of any contractual and pricing obligations.

Receive currency data/company financial statements

The JSE does not provide any currency data or company financial statements. Please consult our data distributor list and a registered data vendor will be able to assist you with your request.

Obtain ad hoc historical Share prices/data

The JSE provides historical data on request and considers each request on a case by case basis, with the overall charge based on the value of the data, amount of data required and the effort involved in producing the data. Please forward your request through to [email protected].

The JSE can’t provide investment advice. But we can give you the definition of the price-to-earnings (PE) ratio: A valuation ratio of a company’s current share price compared to its earnings per share – calculated as the market price of a share divided by earnings per share.

Gross end user account level

Venue hire does accommodate a set-up and dismantle time, and you can arrange rehearsal time for your event during these periods. Details of set up costs can be found on our Venue Pricing page.

Despite the JSE’s proven rate of inflation-beating returns in the long term, it’s important for every investor to remember that companies can fail, markets can collapse, and prices can fallas well as rise. You need to be patient and plan wisely.

Before you venture into the market, take careful stock of your means and motives. Do you want to invest for your own retirement? For your children’s education? For a holiday? Is income a priority, or are you looking for long-term capital growth?

Now take a look at your personal risk profile. How much can you safely afford to lose in the event of a stock market crash or correction? How long will you be prepared to wait for the market to stabilise, and will you have the courage and foresight to continue investing when prices are at their lowest ebb? Your honest answers will determine the extent of your capacity to balance risk with reward.

Either way, the golden rule is to invest only as much as you can comfortably afford after meeting your personal and household expenses. Use this “disposable income” to build yourself a choice portfolio of stocks, and you could have a lot more income to dispose of once those dividend payments start arriving.

A binary option is a type of option where you are paid out an amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option. The cash-or-nothing binary option pays some fixed amount of cash if the option expires in-the-money, meaning you get paid out, while the asset-or-nothing pays the value of the underlying security. The options are binary in nature because there are only two possible outcomes. You either earn a return or you don’t. The JSE does not trade in binary options. 

When buying a binary option the potential return it offers is certain and known before the purchase is made because the price is locked in. Binary options can be bought on virtually any financial product and can be bought in both directions of trade either by buying a “call”/“up” option or a “put”/“down” option. This means that an investor can go long or short on any financial product simply by buying a binary option. Binary options are offered against a fixed expiry time.

Derivatives can be Futures, Options or Warrants. They are securities whose value is determined by or derived from other underlying assets like Shares.

Derivatives comprise Futures, Options and warrants. They are securities whose value is determined by or derived from other underlying assets like Shares.

Exchange Traded Funds (ETFs) are listed investment products that track the performance of a basket of Shares, Bonds or Commodities. These “baskets” are known as indices, for example the FTSE/JSE Top 40 Index. An ETF can be bought and sold just like an Ordinary Share.

Indices reflect the aggregate movement of the markets they represent.  They summarise the fluctuation of Share prices on a given day.  Technically, one can't actually invest in an index.

Indices reflect the aggregate movement of the markets they represent. They summarise the fluctuation of Share prices on a given day. Technically, one can’t actually invest in an index.

Indices can be used as a benchmark to reflect the aggregate movement of the market it represents. This number summarizes the fluctuation of Share prices on a given day. Technically, one can’t actually invest in an index.

Shares are units of ownership in a company. A shareholder owns a Share of the net asset value of the company. Simply put, if four people contribute R10 each to buy a cake, each of them will own a quarter of the cake. If one person contributes more money than the others, he or she will get a bigger slice of the cake.

Single Stock Futures (SSF) is a Derivative Instrument that gives you exposure to the price movements of an underlying financial instrument (Shares). A Futures Contract is a legally binding agreement that gives you, the investor, the right to buy or sell the underlying listed Share at a fixed price on a future date. This means that trading in SSFs enables you to speculate, hedge and exploit market opportunities.  

You need to research what you are buying and know the risks involved.

Our philosophy on sustainability.

A booking for a training course will be confirmed once payment has been received. Invoice payment terms are within 30 days of receipt of invoice, or prior to the confirmed training date should the booking be made within a month of the scheduled training date.

If you cancel your attendance more than one month before the scheduled course date you will incur a 50% cancellation fee.

If you cancel within the month prior to the scheduled course date you will incur a 100% cancellation fee.

Bookings made during the early bird discount period require the early bird rate to be paid in full before the early bird cut-off date. If payment is not received before this cut-off date, the full training fee will be charged.

The terms and conditions for hiring a venue or technical equipment and facilities are available on the Venue & Facilities Terms and Conditions page of our website. Alternatively, you can request a PDF copy from [email protected].

Trading averages are the average number of individual Shares or securities traded in a day or over a period of time. Trading activity relates to the liquidity of the security. So, if the trading average is high, the security has high liquidity and can easily be traded (people are willing to buy and sell it).

For venue hire and facilities enquiries you can email Carol Crozier on [email protected]

For training course enquiries you can email Millicent Radebe on [email protected]

Costs per delegate for each course vary, please consult our Downloadable Training Brochures page for cost details of the course you are interested in attending.

The cost of venue hire and facilities rental will depend on the type of function you are hosting. Our venue hire costs can be found on our Venue Pricing page, while the technical equipment costs are available on the Equipment & Facilities page of the website, and may be amended from time to time. Third party Preferred Suppliers for additional services such as flowers, catering, décor and photography have their own rate cards and will provide a quote based on your requirements.

Suspension of Shares means the company is still listed on the JSE but the Shares cannot be traded until further notice. This is because a company has not met one of the listing requirements. The information is made public via a SENS announcement.

It means there was less demand and more surplus for Shares traded on the exchange, which led to a decrease in volume and value. Hence the soft trade in the afternoon.

The JSE has capacity for uninterrupted power supply (UPS) for projectors, computers and emergency lights on the premises. If you wish to make provision for additional electricity requirements this can be accommodated within certain parameters, at your cost. You are not permitted to alter or add to the existing electrical installations on the premises without our prior written approval.

A bear market is a market in which prices are falling.

A BRICS economy is any of the five economies that make up BRICS, an international political organisation of leading emerging economies. The economies concerned are Brazil, Russia, India, China and South Africa. BRICS is an acronym made up of the first letters of each of these economies’ names.

A bull market is a market in which prices are rising or are expected to rise.

The closing auction is the last 15 minutes of the trading day, when buyers put in their bids and sellers enter their offers at the same time. The price a stock is traded at represents the highest price that a buyer is willing to pay and the lowest price that a seller is willing to sell at. Matching bids and offers are then paired together and the orders are executed. The last price traded will be the closing price. This will be the most up to date valuation of the stock traded until the market opens the next day.

We unfortunately cannot comment on that, but a stockbroker would be the best person to speak to. You can find a list of stockbrokers here.

If you own a Share , you own a portion of a company. Imagine the company as a pie. You own a slice of the pie. You can also call a share equity or stock.

A Spot Bond is a long-term loan. The borrower pays the bondholder interest over a period of time and repays the full loan amount on a predetermined maturity date.

A trust fund is a fund made up of a variety of assets intended to provide benefits to an individual or organisation. The trust fund is established by a grantor to provide financial security to an individual, most often a child or grandchild, or to organisations, such as a charity or other non-profit organisation.

A yield curve is a line that plots the interest rates, at a set point in time, of bonds of equal credit quality, but differing maturity dates.

An ETF is a listed investment product that tracks the performance of a basket of shares, bonds or commodities. ETFs can be bought and sold just like Ordinary Shares. The difference is that one ETF gives you exposure to more than one share, so your risk is lower. Some ETFs will pay you dividends, but not all of them.

A stock or any other security that represents an ownership interest. For a simpler explanation, look at What is a Share?

Forex is the abbreviation for foreign exchange (the currencies of countries other than South Africa, in this case). You can trade in forex (international currencies) and forex derivatives through the JSE.

It is an online trading financial service provider. You can find out more by visiting its website at https://www.gt247.com/.

The All Share Index shows how the value of all the companies on the JSE is changing. The value changes when Share prices go up and down – if the Share prices rise on average, then the index goes up, and vice versa. The index is used as a measure of how well a market is performing. People like to see the index as a graph so they can see visually how the market has moved.

Each course is subject to a minimum attendance. Early bird booking discounts are available for most of our courses. Bookings to reserve a place on an upcoming course or booking enquiries can be addressed to Millicent Radebe on [email protected].

Once you have researched the venues and have a fair idea of how many guests you are planning to host at your function, you can download a Booking Enquiry Form. Fill it in and email it back to Carol Crozier on [email protected]. The JSE events team will respond to acknowledge receipt of your booking enquiry. Venue availability will depend on the dates and times that you are planning to host your function, so confirmation of your request will only follow once the JSE is confident that it is able to accommodate all your requirements. You will be allocated an Event Officer who will assist you through the booking and planning process.

ZAR cash only

An Exchange Traded Fund (ETF) is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. ETFs experience price changes throughout the day as they are bought and sold. 

A Single Stock Future (SSF) is a Derivative Instrument that gives an investor exposure to the price movements of an underlying financial instrument (Shares). A Futures Contract is a legally binding agreement that gives the investor the right to buy or sell the underlying listed share at a fixed price on a future date.

Please see explanation of an ETF here. Single Stock Futures (SSFs) are Futures Contracts on individually listed Shares. They are standardised contracts with set specifications regarding size, expiry dates and tick movement. The value of an SSF contract is normally equal to 100 times the particular Share’s Futures price.

Penny shares cost less per share than other shares and generally penny share companies are smaller than the big companies you hear more about. There is nothing wrong with penny shares, but often people regard them as riskier than bigger stocks, meaning that you could do well but you could also lose money. Ask your stockbroker for advice.

Shareholders are people who own part of the company because they have bought shares in the company. Stakeholders are people who have an interest in the company, but do not own part of the company. Examples of stakeholders would be employees, suppliers, customers, and so on.

To assist you in the planning process for your Function, we have compiled the following information.

The JSE media hub comprises radio and TV studios that accommodate broadcasters and digital publishers such as CNBC Africa, Bloomberg Africa, BizNews.com and Power FM. This facilitates your access to journalists and reporters for on-site interviews if your event is, for example, a listing or Company Results announcement.

The JSE is not only a forum for trading in Stocks, Bonds and Shares. It can also be seen as the engine-room of the South African economy. Here, companies from across the spectrum of industry and commerce gather to raise the public capital that will allow them to expand, in the process creating new jobs, products, services and opportunities. 

As these companies’profits improve, so the dividends are passed on to their shareholders, in a cycle of economic empowerment that reflects the stability and well-being of a nation. But what do the ups and downs of market prices have to do with the ordinary South African? Plenty. 

If you own an insurance policy, a retirement annuity, a unit trust, or even a simple savings account, the JSE is where much of your money goes to make more money for you. Directly or indirectly, the movements of the market matter to millions of South Africans, and that's why more and more South Africans are choosing the direct route to the market – by investing on the JSE.

The minimum amount varies depending on the share or asset class you want to buy. For some Exchange Traded Funds (ETFs), the minimum is R300 a month or a one-off amount of R1 000. 

With online share trading now widely available, you are able to invest any amount on the stock market via the internet. Click here to find out more about online share trading.

For more information you can go to our online course “Stock Market for Beginners”.

The minimum contribution to the default fund is ZAR 10 million. For further details please see the JSE Clear
Default fund policy1.

The JSE’s Virtual Trader is a simulated trading platform, which allows you to experience real-time trading, off a 15-minute delayed price feed, on any of the various asset classes which are currently listed on the JSE.

The JSE’s Virtual Trader is a simulated trading platform, which allows you to experience real-time trading, off a 15 minute delayed price feed, on any of the various asset classes which are currently listed on the JSE.

Over and above venue hire, the JSE offers technical facilities that can accommodate a host of audio-visual requirements, from recording your function to webcasting and conferencing. Preferred Suppliers offer photography, catering, décor and flower services. You would contract directly with these Preferred Suppliers, but a JSE Event Officer would facilitate introductions.

The JSE also provides a (limited) free and unsecured JSE Wi-Fi hotspot connection on the premises.

If you intend on using specialised additional technical services over and above those offered by the JSE through Standard and Premium equipment packages, the JSE may require you to hire a JSE technician. Details of these equipment packages are available on the Equipment & Facilities page of the website.

The JSE uses the Microsoft operating system in relation to computer equipment. If you run an alternative operating system you would need to ensure that necessary testing is timeously performed during the dry-run to ensure compatibility with our systems.

The supply of telephone sockets, telephone lead extensions, ISDN telephone lines and wireless connections other than those already fixed at our premises is the client’s responsibility.

Historical VaR methodology for outright margins and the J-Span methodology for portfolio offsets.
See J-Span Technical document for more information.

The JSE guarantees the settlement of all transactions that are conducted through the central order book in the JSE trading system.

The JSE has in place rules and directives that govern the capital requirements of members in order to ensure, as far as possible, the continuity of their business. In the unlikely event of a member default, clients would be able to claim against the JSE Guarantee Fund, which was set up to offer protection and reassurance to investors.

The JSE doesn’t recommend any particulartrading software. As a client, you would use the trading software your broker supplies. Some brokers develop their own trading software. Others use software developed by independent companies.

The JSE offers a range of training courses for company directors, C-suite executives, Investor Relations and Communications teams, and senior and middle managers. Courses in three main categories of training are available, and range in duration from a few hours to a few days. Downloadable training brochures are available on the following hyperlinks:

• Company Listings
• Investor Relations
• Media Skills

All attendees receive a course certificate on completion.

There are a number of venues available for hire, and you can also combine venues, depending on the type of function you are planning to host. Details of how many guests each venue can accommodate are available on each venue's dedicated page on our website:

• the Auditorium
• the Atrium & Entertainment
• the Reception area located in the JSE foyer

There are also meeting rooms with conferencing facilities, and there is a media hub with radio and TV studios that accommodate broadcasters and digital publishers such as CNBC Africa, Bloomberg Africa, BizNews.com and Power FM. This facilitates your access to journalists and reporters for on-site interviews if your event is, for example, a listing or Company Results announcement.

There are currently four ways to invest in ETFs:

• 1) Open an account with a stockbroker. You will be able to invest in Shares and ETFs this way and you will be able to get advice from your stockbroker. Costs are slightly higher because of this.
• 2) Use the investment plan of one of the ETF providers directly. You will only be able to invest in that ETF provider’s products and it will cost you less than going through a stockbroker, but you won’t receive any advice. You will be able to invest a minimum of R300 a month or R1 000 as a lump sum.
• 3) Use etfSA, an online platform that allows you to buy and sell ETFs and offers you additional information such as the performance figures of each ETF. You will be able to invest in ETFs, but not individual company Shares, at a cost very similar to that of dealing directly with the ETF provider. etfSA also offers an investment plan through which you can invest a minimum of R300 a month or R1 000 as a lump sum. www.etfsa.co.za
• 4) Use itransact, which offers an online platform specifically designed for the financial advisor, whom you can consult for some additional advice: www.itransact.co.za
  • a.Your financial advisor can invest on your behalf
  • b.An investment plan is also available through them; and
  • c.You’re able to invest in ETFs, ETNs and ETF wrap funds, through their accredited financial advisors.

Stockbrokers charge different fees. You would have to get in contact with one to find out how much their services will cost.

We unfortunately cannot comment on that, but a stockbroker would be the best person to speak to. You can find a list of stockbrokers here.

JSE training courses all take place at the JSE in Johannesburg, South Africa at Exchange Square, 2 Gwen Lane, Sandton, 2031. Courses are offered throughout the year – you can email Millicent Radebe on [email protected] for more information about upcoming planned courses and dates.

You can find JSE-approved stockbrokers. These brokers trade in Bonds and Equities, as well as Derivatives.

You can find information on Shares and companies through various financial news sites and television channels.

You can find market data here, 

All prices are delayed by 15 minutes. If you want real-time data you need to go through one of the JSE’s data distributors. You can find a list here.

Free public trading and investing seminars .

You can find information about what’s happening at the JSE.

CNA and Exclusive Books.

We do not have the annual results of companies on the website. We do have an alphabetical list which is available here. You will need to go each company’s individual website to find their reports.

The JSE is located in Johannesburg, South Africa at Exchange Square, 2 Gwen Lane, Sandton, 2031

We aren’t able to give you advice like this. Please ask a stockbroker, bank or financial planner for advice. Or you may wish to invest in Exchange Traded Funds (ETFs) that hold Top 40 stocks.

We unfortunately cannot comment on that, but a stockbroker would be the best person to speak to. You can find a list of stockbrokers here.

You can get investment advice from a registered financial advisor, who may be with your bank or a stockbroker. Click here for a list of brokers, or speak to your bank for advice.
If you are starting out, you might like to consider a product like an Exchange Traded Funds (ETFs), which you can buy monthly by debit order.

A list of Preferred Suppliers offers contact details for these service providers.

Each course is delivered by an expert in their field. Trainer Profiles are available on our website.

All requests for FTSE/JSE Indices and hoc data requests should be sent to [email protected]. Please tell us what index data you require as well as what fields and whether it is monthly or daily data that you require. We will then guide you in the process.

Listing enables a company to raise capital (the funds it needs to operate and grow) and thus promotes improvements in a company. Listing generally heightens a company’s public profile with customers, suppliers, the media and investors. As a result, more business opportunities become available to the company. Find out more about listing a company.   Find out more about listing a company

When you have more sellers than buyers for a particular company’s shares, Share prices usually fall because there are more of these Shares available. If a company is very profitable, a Share in that company will become more valuable because more people think that it is a good investment. Also consider factors such as economic and political events that influence Share prices. The market will rise and fall in the short term because of various market conditions but over the longer period the market does offer you a favourable return. Share trading normally does not make you rich overnight; it should be treated as a long term investment.

No market operates in a vacuum. In our inter-connected world, the smallest event, rumour or opinion can spark a swift market reaction. 

Prices can rise as quickly as they fall, confounding the plans of some industries while rescuing others from the brink of disaster. These random forces – the “Great Unknowns” – combine with the everyday laws of supply and demand, and the cyclical nature of business itself, to shape the peaks and valleys of a dynamically shifting market. 

You may not be able to predict these forces, but by analysing and understanding them, you will be better equipped to weather the lows as you wait for better times.

Generally, the price of a stock is determined by supply and demand. For example, if there are more people wanting to buy a stock than to sell it, the price will be driven up because those Shares are rarer and people will pay a higher price for them. If there are a lot of Shares for sale and no one is interested in buying them, the price will fall quickly. Labour unrest is one of the factors that can affect the demand for companies’ Shares.

Generally, the price of a stock is determined by supply and demand. For example, if there are more people wanting to buy a stock than to sell it, the price will be driven up because those Shares are rarer and people will pay a higher price for them. If there are a lot of Shares for sale and no one is interested in buying them, the price will fall quickly.

The JSE trades a variety of financial instruments, including Shares (also called Stocks or Equities) and Derivative Instruments, commonly referred to as financial securities.

Yes, you need to advise us of how many tables and chairs you require for registration and these will be set up in designated areas depending on which venue you are hiring for your function.