Blowing your own horn is often frowned upon by the masses – it is, after all, up to other people to praise you on a job well done. Well, that’s all fair and well, but this does not apply at the Johannesburg Stock Exchange. The JSE has a long standing tradition of extending the privilege of symbolically opening the market to celebrate different milestones that companies reach. These milestones could be, the launch of new product lines, celebrating a successful financial year or new listings.
This ceremonious event takes place in front of the wallboard at the JSE where the market open time is counted down and is marked by the sounding of the kudu horn. The kudu horn was specifically selected for its uniqueness and ties to Southern Africa. South Africans are big on nature and the Kudu is a great representation of our culture.
There is myth that the louder you blow the horn the more likely the stock performance will be in your favour. It is no wonder Helena Conradie, CEO of Satrix (one of CN&CO’s partners) sounded the horn so loudly on Tuesday, 25 July 2017 when the company launched three new ETF’s at the JSE; namely: Satrix MSCI World ETF, Satrix MSCI Emerging Markets ETF and lastly Satrix S&P 500 ETF. And judging by the performance of these amazing listings, she did a superb job!
Much like at the JSE, other stock exchanges around the world have similar symbolic events to mark company milestones. For instance, New York, like many exchanges, has a bell. At Brazil’s main exchange in São Paulo, executives herald listings with a giant buzzer. At Shanghai and Hong Kong exchanges, they strike a gong.
Follow @satrix_sa and @easyequities to get the scoop on the next exciting listing – and join in this unique South African blowing of the kudu horn!