Trading software and liquidity services provider Finalto has partnered with A2X, a low-cost platform in South Africa that provides real-time price data.
The alliance seeks to make it easier for brokers, asset managers, banks, and traders to access South African-listed companies and ETFs through Finalto’s network.
The collaboration will see Finalto’s trading platforms integrate A2X’s technology, providing local and international clients with a more streamlined trading experience. Both companies see the partnership as an opportunity to improve market accessibility in South Africa’s financial sector.
Neal Lawrence, CTO of A2X, and Dany Mawas, CEO of Finalto Africa, acknowledged the partnership’s support for further growth in the region’s market.
Neal Lawrence said: “We are delighted to be the chosen exchange platform in South Africa for Finalto, and we look forward to offering their client base access to a broad range of publicly listed companies and ETFs. Recent developments in South Africa have made the country an exciting destination for international investors and we look forward to seeing increased interest in the South African stock market”.
As one of the few financial institutions in South Africa to hold an ODP license, Finalto assures that its trading systems for over-the-counter derivatives are fully regulated and compliant with local laws.
Forex brokers in South Africa are overseen by the financial sector conduct authority, FSCA, which approves the platforms that can operate within the jurisdiction. The powerful watchdog handles the issuance of licenses and can sanction companies that violate guidelines of the nation’s dual regulation system.
The Financial Sector Conduct Authority (FSCA) of South Africa has recently intensified its efforts to enforce compliance among Financial Services Providers (FSPs) with the Financial Markets Act (FMA) of 2016. On March 28, 2024, the FSCA issued a warning against 14 specific FSPs that remain unlicensed to offer derivative trading options, highlighting the risks associated with unregulated financial activities.
In response to the FSCA’s actions, Finalto has reiterated its status as a licensed market maker, committed to the standards of reliability and regulatory compliance.
Dany Mawas, Finalto CEO Africa further comments: “I am excited to announce this groundbreaking strategic partnership with A2X. This collaboration aims to offer to our institutional clientele swift access to a diverse selection of South African-listed products, including Stocks and ETFs.”
He added: “This strategic alliance underscores our continuous commitment to delivering innovative and efficient trading solutions to the South African market and its participants. By combining A2X’s cutting-edge technology with Finalto’s global reach and expertise, we aim to significantly enhance market accessibility and drive growth within the South African financial sector. I’m looking forward to the exciting opportunities this amazing partnership will bring us, as we continue to invest resources in Africa.”
