4AX has modern, scalable technology and infrastructure to reduce cost and increase efficiency through the following:
- + the 4AX Exchange and Registry Technology was designed to significantly reduce regulatory “red-tape’’ but maintain and even enhance the regulatory outcome;
- + having cloud-hosted exchange technology;
- + offering pre-funded, pre-validated trading with (T+0) end of day settlement capability; and
- + having various new portals to improve the dissemination of information, real-time shareholder register updates to issuers and marketing of issuer shares.
4AX has a unique exchange infrastructure in South Africa with its electronic central independent register of beneficial ownership housed within 4AX Registry.
This allows for:
- + The removal of minimum fees when trading
- + Real-time market information to retail shareholders
- + Real-time market surveillance
- + Facilitates improved restricted share trading liquidity, market trust and integrity
4AX has clear and transparent Listing Requirement (LRs) which have been uniquely designed to introduce new types of listings and facilitate much needed growth in the mid-market sector through, amongst others, the following features:
- + The LRs were written with the specific needs of SMEs in mind;
- + acilitates acquisitions and growth through using listed shares as acquisition currency by reducing associated red tape and costs and increasing speed to market and ability to execute;
- + promotes “shareholder democracy” by allowing shareholders to set certain key clear listing requirement thresholds, suitable for that Issuer, which is regulated by 4AX;
- + allows for new Issuers with less than a three-year trading history to be listed (i.e. the listing of a bankable company or new project e.g. renewable energy projects);
- + allows for the listing of qualifying “N-Shares” or companies with a “voting” share model to promote the listing of e.g. private equity funds and/or established entrepreneurs whom investors would like to follow;
- + promotes the listing of BEE schemes and investment holding companies;
- + allows for reduced spread requirements if the listing serves a proper business purpose;
- + subscribes to global standards.