n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - Aspects of the cross-listing of securities

Volume 21, Issue 5
  • ISSN : 1015-0099
  • E-ISSN: 1996-2185



The nature of securities and of securities transactions facilitates the flow of capital across borders and the development of an increasingly globalised securities market. Securities represent bundles of rights against a company and are thus intangible. The dematerialisation of securities not only eliminates paper-based evidence of the rights embodied in the securities but also results in the involvement of intermediaries who for practical reasons may hold securities as nominees on behalf of beneficial holders. Electronic share transactions on regulated markets as well as alternative Internet-based trading platforms add impetus to the integration of capital markets.

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