JSE derivatives trade rises sharply
JOHANNESBURG - Forex derivatives trades on the Johannesburg Stock Exchange (JSE) hit R4.4 billion ($457 million) notional in February, rising 247% year-on-year, amid increased FX hedging by corporates and institutional investors.
Trading was lifted by a 215% rise in USD/ZAR contracts to R3.34 billion, driven by a 142% increase in contracts to 330,790. In comparison with this, the number of transactions grew by a modest 11% to 793 in the period, signalling that traders were transacting larger
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