JSE posted H1 headline EPS of 816.2 cents, up 18.8%, as net profit after tax rose 16.9% and operating income increased 14.6%.
Revenue strength was broad-based: capital markets climbed 17.6% to R719 million, post-trade rose 16.5% to R619 million, and average daily value traded jumped 22.5% to R32.6 billion.
Cash generation stayed strong, with net cash generated up 20.6% to R624.7 million and cash balances reaching R2.59 billion, while the bourse repurchased 1.1 million shares.
FORGE 2031 now frames the next phase, with organizational redesign completed and AI deployment underway, even as Q2 trading moderated and management expects H2 activity to normalize further.
Costs and investment are also rising: reported operating expenses increased 11.5% and capital expenditure surged to R110.3 million from R27.1 million as modernization spending accelerates.
With trading volumes softening, can JSE's massive AWS cloud investments and AI deployment truly safeguard its profits in late 2026?
How will the Johannesburg Stock Exchange balance soaring modernization costs with shareholder returns as second-half market activity threatens to cool?
As JSE aggressively pivots toward a pan-African digital marketplace, will its rapid technological evolution leave traditional legacy brokers behind?