MICROMEGA HOLDINGS LIMITED - Subsidiary company MICROmega Securities has entered into a joint venture with GFI Securities Nyon Sarl effective fro
MMG 201304050033A
Subsidiary company MICROmega Securities has entered into a joint venture with GFI Securities Nyon Sarl effective fro
MICROmega HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/003821/06)
JSE share code: MMG ISIN code:ZAE000034435
(“MICROmega”)
MICROmega – SUBDSIDIARY COMPANY MICROmega SECURITIES HAS ENTERED INTO A
JOINT VENTURE WITH GFI SECURITIES NYON SARL (“GFI”) EFFECTIVE FROM 1 APRIL
2013
MICROmega today announced that its subsidiary company MICROmega Securities (Pty) Ltd
(“MICROmega Securities”) has entered into a joint venture with GFI effective from
1 April 2013.
“For the past thirteen years we have had a trade and co-operation agreement with Tullett Prebon plc that
gave our South African operation access, albeit on a restricted basis, to international markets to service our
local client base” said Joe Vercueil, Managing Director of MICROmega Securities. “That agreement ended
on the 31st March 2013 and we looked for a new partnership that would enable us to give a more
comprehensive and truly international service that meets the more evolved needs of the local market place
that finds itself increasingly competing in a global market. Our new agreement with GFI will materially
enhance our service delivery platform in both South Africa and the international markets through our
collective approach to leveraging our joint service offering. We believe this will ensure that we are far better
placed to provide improved liquidity and better price discovery for our clients.”
The joint venture will incorporate and operate GFI’s electronic trading platforms: ForexMatch and
CreditMatch. These platforms display foreign exchange, fixed income derivatives and bond prices on screen.
This gives users more information and transparency into what factors are affecting the market, and enhances
additional trading opportunities and price discovery within all markets.
By order of the board of directors
5 April 2013
Sponsor: Java Capital
Date: 05/04/2013 04:23:00 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.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
