Sharenet Sites 
Sharenet Sites
Competition Commission announcement regarding JSE
JSE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 2005/022939/06)
Share Code: JSE
ISIN: ZAE000079711
LEI: 213800MZ1VUQEBWRFO39
("JSE" or "the Group")
COMPETITION COMMISSION ANNOUNCEMENT REGARDING JSE
Shareholders are advised that the Competition Commission (the "Commission")
has announced on social media on 9 November 2025 that it has referred the
JSE to the Competition Tribunal (the "Tribunal") for prosecution. The
Commission did not provide details in its announcement and posted a non-
confidential version of its referral affidavit, which it referred to the
Tribunal on 1 October 2025.
The JSE is preparing its plea to the Commission's referral, which, by
agreement with the Commission and with the consent of the Tribunal, will
be filed in early 2026.
Given the nature of these proceedings, the JSE cannot determine if or when
the matter will proceed to trial.
The referral arises from a complaint that A2X Proprietary Limited (A2X)
submitted to the Commission in October 2022, alleging that the JSE is
abusing a dominant market position by engaging in exclusionary conduct
concerning the JSE's broker dealer accounting (BDA) system and matched
principal (MP) trade type. The JSE has cooperated fully with the Commission
throughout its investigation. The JSE denies these allegations in the
strongest possible terms and has been advised by external legal counsel
that the Commission's claims are without merit.
The Commission's referral seeks an order from the Tribunal that the JSE
amend its rules relating to the BDA system and the MP trade type, as well
as a potential administrative penalty.
Sandton
10 November 2025
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 10-11-2025 08:41:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
