A2X Markets, which launched in October 2017 and is one of several new exchanges in SA, has added the first index-tracking funds to its trading platform amid growing demand for low-cost passive investment products.
It said on Thursday Absa’s corporate and investment banking unit would secondary-list three JSE-listed metal ETFs from next Thursday. The ETFs to be listed are NewGold, NewPlat and NewGold Palladium, which track the rand price of gold, platinum and palladium, respectively.The ETFs will retain their listings on other exchanges, including the JSE and Namibian Stock Exchange.
“ETFs are experiencing significant growth due to their low cost and we are pleased to be able to extend our offering to include these products,” said A2X CEO Kevin Brady.
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