Johannesburg South Africa

History

Formerly known as the JSE Securities Exchange and the Johannesburg Stock Exchange, JSE Limited stands as the largest stock exchange in Africa. Originally situated in downtown Johannesburg, it relocated to Sandton in 2000. In 2003, the JSE boasted around 800 listed companies with a market capitalization of US$182.6 billion (€158 billion) and an average monthly traded value of US$6.399 billion (€5.5 billion). By 2023, the market capitalization of the JSE had surged to US$1.36 trillion.

The 1886 discovery of gold on the Witwatersrand prompted the establishment of numerous mining and financial companies, necessitating the creation of a stock exchange. Initial share transactions occurred in a rudimentary canvas tent on the Rand, conducting trade on Sundays due to mining restrictions on that day, enforced to prevent the entry of African workers to the gold reefs.

Founded by London businessman Benjamin Minors Woollan, the Johannesburg Exchange & Chambers Company emerged at the intersection of Commissioner and Simmonds Streets. This paved the way for the establishment of the JSE on November 8, 1887. One key advantage the JSE held over other exchanges, including London, was the straightforward and cost-effective process for listing companies on its Official List.

In 1890, due to growth, the trading hall was rebuilt but soon became insufficient, leading to street trading. In 1903, a new JSE building was constructed on Hollard Street, occupying an entire city block. After World War II, the need for a larger space emerged, and in 1961, a second exchange at Hollard Street was officially opened after 11 years of construction. By 1963, the JSE became a member of the Federation Internationale des Bourses de Valeurs (FIBV).

In 1978, the JSE relocated to 17 Diagonal Street, near Kerk Street, Johannesburg. The year 1993 marked the JSE’s active membership in the African Stock Exchanges Association. After 108 years, the traditional open outcry trading system transitioned to an electronic system on June 7, 1996.

In September 2000, the Johannesburg Securities Exchange relocated to its current site in Sandton, Gauteng, situated at the corner of Maude Street and Gwen Lane. It officially adopted the name JSE Securities Exchange. By 2001, an agreement with the London Stock Exchange was established, allowing cross-dealing between the two exchanges and replacing the JSE’s trading system with that of the LSE.

On April 14, 2014, the JSE underwent a rebranding to signify its status as a contemporary African marketplace, connecting investors to global growth opportunities. In May 2022, the JSE achieved a milestone by being the first exchange to introduce a service called JSE Trade Explorer. Powered by provider xyt, it utilizes peer group rankings to aid trading firms in exploring market share, analyzing trading interactions, and assessing performance.