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Jse Ltd (JSEJY) CEO Nicky Newton-King on Q2 2018 Results - Earnings Call Transcript

Aug. 05, 2018 7:00 PM ETJse Ltd. ADR (JSEJY)
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Jse Ltd (OTC:JSEJY) Q2 2018 Results Earnings Conference Call August 2, 2018 3:00 AM ET


Nicky Newton-King - Chief Executive Officer

Aarti Takoordeen - Chief Financial Officer


Harry Botha - Avior Capital Markets

Chris Blaine - African Alliance


Good morning, ladies and gentlemen, and welcome to the JSE Limited Interim Results for 2018. All participants will be in listen-only mode. [Operator Instructions] Please note that this conference is being recorded.

I'd now like to hand over to Ms. Nicky Newton-King. Please go ahead, ma'am.

Nicky Newton-King

Thank you very much. Good morning, everybody. Just to clarify, can everybody hear this line very well because it feels on our side very scratchy and inconsistent. Okay, I'm assuming that everybody can hear, so we're going to carry on, and, but please speak up if you feel that you, that it isn't good enough. So it's a pleasure to speak to you this morning. As you can see from our results, the first half of the year was relatively unpredictable with, as one of the [indiscernible] a tale of 2 quarters. The first quarter barely traded up significantly over the comparable period last year and flowing somewhat in the second quarter. But all of that activity has translated into significant increases across all of our drivers.

As you will see from the presentation on the website, equitable, billable equity value traded up 11%; the number of IPOs up 2 to 10 IPOs; Equity Derivatives up 4%; interest rate derivative contracts up 26%; commodities up 11%; currency 7%; and the bond nominal value traded up. So all the key drivers of JSE are up in the right direction. And this, as you know, from reading the things, translated into operating revenue up 7%. We did this time last year announce our fundamental restructuring of our business, and you can see that impacting the cost line this

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