ZAR X is the first stock exchange company to be given licence to trade in South Africa in over a century.
Market expert David Shapiro says there may not be space for another stock exchange, particularly in the equity market.
If you analyse the equity market, most of the trade is accounted for by large companies with international interests.— David Shapiro, Portfolio Manager at Sasfin Asset Managers
Shapiro says the motive behind the second stock exchange remains unclear and says it cannot compete with the Johannesburg Stock Exchange's (JSE) 130-year-old established equity market.
Listen to the full conversation from The Midday Report with Stephen Grootes: