Beware of "JSE Investment" scams

The JSE Limited/ Johannesburg Stock Exchange (JSE) is aware of a several scams (on Telegram and WhatsApp) posing as authorised JSE investment schemes and/or using the names(s) of JSE Executives (including our CEO, Leila Fourie).

In these investment scams, potential investors are urged to deposit money into a bank account and promised quick and guaranteed returns on their investment. These types of groups are not authorised by the JSE and the investments referred to are not authorised or endorsed by the JSE or any members of the JSE Executive. The JSE does not recruit investors in this manner.

The only way to invest on the JSE is via an authorised JSE stockbroker. A list of stockbrokers can be found on www.jse.co.za and then click on 'find a stockbroker' and you will find a list of stockbrokers in your area who will help you to open an account and you can begin your investment journey with the JSE.

Should you suspect a false investment scam group, please report these to the JSE at [email protected].

Building a transparent and liquid Index Options market on-screen

The JSE Index Options Market-Making Scheme aims to enhance transparency and drive liquidity with real-time on-screen quotes. Investors can trade index option contracts while accurately hedging their exposure.  

The JSE Index Options Market-Making Scheme in the Equity Derivatives Market provides real-time on-screen pricing for the ALSI Top 40 Index options contract. This enables better pricing, improvements in spreads and depth of the order book, which leads to consistent valuation of trading books.

Traders can voluntarily post competitive bids and offers on-screen for various option strikes and expiries, with no obligations imposed on participants.

The JSE has adopted a maker-taker fee model which automatically charges a zero fee on the liquidity providers’ side of the trade on index options. We also offer a market-making incentive scheme linked to formalised obligations applicable to market-makers. This expanded the universe of eligible contracts available under the scheme.

Benefits:

  1. Visible Index Option prices on-screen
  2. Tighter Bid/Offer spreads
  3. Enhanced liquidity

How does it work?

The first six months of phase 1 of the project rollout will enable you to voluntarily post competitive bids and offers on-screen for various option strikes and expiries, with no obligations imposed on participants.

The JSE has adopted a Maker-Taker fee model which automatically charges a Zero Fee to the liquidity providers’ side of the trade on Index Options.

In phase 2 we will introduce a Market-Making incentive scheme linked to formalised obligations applicable to market-makers, and expand the universe of eligible contracts under the scheme.

  Phase 1: Best Efforts Basis Phase 2: Market Making Scheme
Instrument Scope ALSI Index options ALSI Index options
Participants Open to all market participants Open to designated Market Makers
Minimum Presence No Minimum presence obligations 50% with two-way quotes (excluding auctions)
Minimum Quality 100 Index Contracts 100 Index contracts, Bid and Offer size should be of comparable size
Minimum Spread Competitive bid-offer spreads but this is not a formal requirement 2 Volatility points
Exceptional Market Conditions No quoting obligations/Suspension of performance Monitoring No quoting obligations/Suspension of performance Monitoring
Monitoring and reporting No monitoring process The compliance with the obligations will be continuously monitored by the JSE. The Market Makers will be informed of their monthly compliances with the above requirements