Group overview

Financial markets and exchanges experience profound change, driven by innovation and technological advances. The JSE responds to these changes by developing new products and services, investing in world-class technology and acquiring companies that deepen our relationship with clients. Our revenue mix is increasingly diversified.

FY 2023 revenue contribution (inner circle represents FY 2022)

Note: Figures contain rounding differences. ¹Includes Issuer Services revenue (R11m), JPP (R0.6m) and investor protection levy income (R47m). For illustrative purposes, R30m has been excluded from other income and included in operating revenue for 2022. ²Includes colocation revenue: R43m (2022: R33m). ³For illustrative purposes, 2022 derivatives revenue has been excluded from Capital Markets and included in JSE Clear on a like for like basis, deemed JSE Clear revenue share (30%)

Learn more about our legal structure and overview and history

The role of the JSE

Exchanges and clearing houses are critical role-players in a market economy, and they foster economic growth and strengthen market integrity. As market infrastructures, they enable the efficient allocation of capital by providing the marketplaces for raising capital and connecting buyers and sellers.

Our primary function is to provide facilities for the listing and trading of securities. Our role contributes to economic growth and value creation, which are critical to resolving South Africa’s challenges.

Listing of securities

We are an interface between those who provide capital and those who need capital.

We actively promote sustainable, transparent business and responsible investment. We are a global thought leader in governance, sustainability, and corporate disclosure on these matters.

We evolve our responsible investment product offering through indices, bonds and other initiatives.

Trading of securities

We provide a cost-effective, efficient, well-regulated, transparent and trusted platform for financial transactions.

We enhance our regulatory regimes and disclosure to ensure that investors are equipped with transparent information to make informed investment decisions.

Our business model

Our regulators

We are a licensed exchange in terms of the Financial Markets Act. This Act describes our regulatory duties, powers and functions. This includes our obligation to make listings requirements and enforce them, and to regulate the trading, clearing and settlement of transactions in those listed securities through the Exchange.

Our relationships with regulators are important to ensure the smooth functioning of our role as frontline regulator. The Financial Sector Conduct Authority is our lead regulator.
The JSE and JSE Clear are also subject to prudential regulation by the Prudential Authority, a South African Reserve Bank division.

Learn more about relationships with our regulator in the governance section and our Group self-regulatory organisation oversight committee report for 2021 .

A globally-connected and diversified exchange Group

Group overview

FY 2023 revenue contribution (inner circle represents FY 2022)