Who is Atisa and Why Invest with Them?

Atisa Securities is a niche South African stockbroker known for offering boutique-style, client-focused investment services. They specialise in direct equity trading, portfolio construction, and market execution tailored to both private and institutional clients.

Their services include JSE-listed equities, ETFs, and structured investment vehicles. Atisa also supports custom investment mandates for high-net-worth individuals seeking more tailored wealth strategies.

To invest with Atisa, you’ll start by contacting their team directly to schedule a consultation. They’ll handle all onboarding, risk profiling, and FICA requirements while working to understand your objectives.

Atisa is well-suited to investors looking for focused, personalised service and a relationship-driven approach to building a long-term portfolio in the South African market.

Types of Brokers on the Johannesburg Stock Exchange (JSE)

The Johannesburg Stock Exchange (JSE), Africa’s largest and most liquid stock exchange, hosts a wide range of financial instruments. Brokers on the JSE are officially recognised as Members and are licensed to operate within specific market segments. These segments include equities, derivatives, interest rate products, and foreign currency instruments. The type of membership held by a broker determines the instruments they may legally trade on behalf of clients or for proprietary purposes.

Understanding the categorisation of brokers is essential for market participants, especially institutional investors, fund managers, and retail traders, as it directly impacts the range of products a broker can offer, their trading strategies, and regulatory compliance. Below is an overview of the primary types of brokers on the JSE.

• Equities Member: These brokers are licensed to trade listed shares on the Main Board and AltX (Alternative Exchange) segments of the JSE. They facilitate the buying and selling of ordinary and preference shares for clients or their own portfolios. Equities Members play a key role in price discovery, market liquidity, and corporate action execution (e.g., rights issues, dividends). Many of South Africa’s prominent retail brokers fall under this category.

• Equity Derivatives Member: These brokers specialise in the execution and clearing of equity-linked derivative products such as futures and options on individual stocks and indices (e.g., Top 40 Index futures). Their clients include hedge funds, proprietary trading desks, asset managers, and retail speculators. Equity derivatives allow for hedging, leverage, and speculative opportunities across the South African equity market.

• Interest Rate Member: These firms focus on instruments that derive their value from South Africa’s interest rate environment. Products include bond futures, forward rate agreements (FRAs), swaps, and interest rate options. Interest Rate Members support liquidity in the fixed income derivatives market and serve institutional clients such as banks, pension funds, and insurance companies.

• Commodity Derivatives Member: These brokers are authorised to trade derivatives based on physical commodities, such as maize, wheat, sunflower seeds, and gold. These instruments are primarily traded via the JSE’s Commodity Derivatives Market (formerly SAFEX). They are used by farmers, agricultural cooperatives, mining firms, and speculative investors to hedge or gain exposure to price movements in the commodities sector.

• Currency Derivatives Member: These brokers deal in foreign exchange derivatives, including futures and options on currency pairs such as USD/ZAR, GBP/ZAR, EUR/ZAR, and more. This market segment allows for risk management against forex volatility and is actively used by importers, exporters, and cross-border investors.

In many cases, a broker may hold multiple licences, enabling them to operate across more than one market segment. However, each membership type is subject to its own set of regulatory, capital, and reporting requirements under the JSE and the Financial Sector Conduct Authority (FSCA).

Tradable Instruments on the JSE

JSE offers a wide variety of tradable financial instruments. These instruments cater to diverse investor needs—from long-term capital growth and income generation to short-term speculation and hedging strategies.

Each asset class on the JSE operates under specific trading rules and regulatory frameworks. Whether you are a retail investor, institutional fund manager, or corporate participant, the JSE provides access to both primary and secondary markets through the following key instruments:

• Equities (Shares): Investors can trade listed shares of companies on the JSE’s Main Board and AltX. These include ordinary and preference shares across a range of sectors such as banking, mining, telecoms, and consumer goods. Equities offer exposure to dividends, corporate actions, and potential capital appreciation. All trading is executed through the JSE’s central order book system.

• Exchange-Traded Funds (ETFs): ETFs are listed investment products that track the performance of indices, commodities, or baskets of assets. They provide investors with low-cost, diversified exposure and are widely used for both passive and tactical portfolio strategies. The JSE lists ETFs that track local indices (e.g. Top 40) as well as international benchmarks.

• Bonds and Interest-Bearing Securities: The JSE’s Interest Rate Market enables trading of South African government bonds, state-owned enterprise debt, municipal bonds, and corporate bonds. These instruments pay periodic interest and are commonly used for fixed-income investment strategies. Trades are settled via STRATE through the BondClear platform.

• Equity Derivatives: Futures and options on individual shares and equity indices allow investors to hedge risk, gain leveraged exposure, or implement structured strategies. Popular contracts include index futures such as ALSI (Top 40) and single-stock futures (SSFs). These products are used by institutional investors, hedge funds, and active traders.

• Currency Derivatives: The JSE offers futures and options on foreign exchange pairs including USD/ZAR, GBP/ZAR, and EUR/ZAR. These contracts allow importers, exporters, and investors to manage foreign exchange risk or speculate on currency movements in a transparent and regulated environment.

• Commodity Derivatives: Traded on the JSE’s Commodity Derivatives Market (formerly SAFEX), these contracts include futures and options on agricultural products such as maize, wheat, sunflower seeds, and soybeans. These are essential tools for price discovery and risk management within South Africa’s agriculture and agribusiness sectors.

• Contracts for Difference (CFDs): Although not traded directly on the JSE, many brokers licensed by the FSCA offer CFDs on JSE-listed shares. CFDs allow traders to speculate on price movements using leverage without owning the underlying asset. They are popular among active and short-term traders.

• Exchange-Traded Notes (ETNs): ETNs are debt instruments traded on the JSE that offer exposure to indices, commodities, or strategies. They are similar to ETFs but differ in structure and risk profile. ETNs are gaining popularity for providing flexible, structured exposure to alternative assets.