The South African Futures Exchange (Safex) is the futures exchange subsidiary of JSE Limited, the Johannesburg based exchange. It consists of two divisions; a financial markets division for trading of equity derivatives and an agricultural markets division (AMD) for trading of agricultural derivatives.
Safex was formed in 1990 as an independent exchange and experienced steady growth over the following decade. In 1995 a separate agricultural markets division was formed for trading of agricultural derivatives. The exchange continued to make steady progress despite intensifying competition from international derivative exchanges and over-the-counter alternatives. By 1997 Safex reserves have grown sufficiently to allow a significant reduction in the fees it levies per future or options contract. Consequently, all fees were reduced by 50 per cent that year and in the changes on allocated trades were removed. In 2001 the exchange was acquired by the JSE Securities Exchange, with the JSE agreeing to keep the Safex branding.
The exchange is a Self-Regulatory Authority and exercises its regulatory functions in terms of the Financial Markets Control Act, 1989 and its rules. The Exchange, in turn, is supervised by Financial Services Board (South Africa).
Allem Brothers Grain Marketing department is a leader in the procurement and selling of agricultural products and focuses on the origination of agricultural commodities on behalf of third party and end users. Allem Brothers Grain Marketing prides itself in developing lasting customer and supplier relationships with service delivery.
Procurement agricultural commodities include white and yellow maize, soya beans, sunflower seed, wheat and sorghum from trustworthy grain producers across South Africa.
The Grain Marketing department has further distinguished itself by becoming leaders in the South African grain industry through professional and knowledgeable procurement supported by an effective administration system and an effective silo storage system. Product innovation as well as sound and secure advice on market information add another feature to the core business of Allem Brothers. Innovative products are also offered which among others include the following: fixed price contracts, minimum price contracts, minimum / maximum price contracts and deferred pricing contracts. These innovative marketing products aid producers in making the best possible pricing decision at any given moment.
It is our vision to build long term strategic partnerships with producers and end users of grain by ensuring market related prices to producers on a daily basis, as well as securing grain for end users at the best locations and at the best basis price available.
Relevant Contact Persons:
Geoff Allem (Managing Director) 0563433111 | firstname.lastname@example.org