Trading software and liquidity services provider Finalto has partnered with A2X, a South African low-cost platform that provides real-time price data.
The partnership aims to make it easier for brokers, asset managers, banks and traders to access South African listed companies and ETFs through Finalto’s network.
The partnership will integrate A2X’s technology into Finalto’s trading platform, providing a more streamlined trading experience for domestic and international customers. Both companies see this partnership as an opportunity to improve market access in South Africa’s financial sector.
Neil Lawrence, CTO of A2X, and Dany Mawas, CEO of Finalto Africa, confirmed that the partnership supports further growth in the regional market.
Neil Lawrence said: “We are delighted to have been chosen as the South African exchange platform for Finalto and look forward to providing their customer base with access to a wide range of listed companies and ETFs.”With recent developments in South Africa, The country has become an attractive destination for international investors and we expect to see increased interest in the South African stock market. ”
As one of the few financial institutions in South Africa to hold an ODP license, Finalto ensures that its over-the-counter derivatives trading system is fully regulated and compliant with local law.
Forex brokers in South Africa are supervised by the Financial Sector Conduct Authority, the FSCA, which approves the platforms that can operate within its jurisdiction. This powerful watchdog handles the issuance of licenses and can sanction companies that violate the guidelines of the country’s dual regulatory system.
South Africa’s Financial Sector Conduct Authority (FSCA) has recently stepped up efforts to force financial service providers (FSPs) to comply with the Financial Markets Act 2016 (FMA). On March 28, 2024, the FSCA issued warnings for 14 financial instrument transactions. Certain FSPs remain unlicensed to offer derivative trading options, highlighting the risks associated with unregulated financial activities.
In response to the FSCA action, Finalto reiterated its position as a licensed market maker committed to standards of authenticity and regulatory compliance.
Dany Mawas, CEO of Finalto Africa, further commented: The partnership aims to provide our institutional clients with quick access to a diverse range of South African listed products, including stocks and ETFs. ”
He added: “This strategic partnership underlines our continued commitment to providing innovative and efficient trading solutions to the South African market and its participants. A2X’s cutting-edge technology and Finalto By combining our global reach and expertise, we aim to significantly enhance market access and foster growth within South Africa’s financial sector as we continue to invest resources in Africa. We look forward to the exciting opportunities this great partnership will bring us.”
