A2X Applies for South Africa Stock-Exchange License

A2X led by Kevin Brady, who is former MD of securities at Investec; ex-JSE Company Secretary Gary Clarke; Neal Lawrence, ex-head of IT at UBS, IT principal at Absa Capital, Johannesburg-based Business Day reports, citing Brady.

* Application submitted to Financial Services Board; * A2X plans to compete w/ JSE; * Plans to start operating in mid-2016; this depends on regulatory process; * ZAR X, 4 Africa Exchange have also submitted applications. Source: Bloomberg