•  The restructuring of the capital market to provide for more specialised trading in equities (shares), bonds and derivatives. The Johannesburg Stock Exchange changed its total character by providing for corporate ownership, foreign participation, screen trading, paper dematerialisation, and for an electronically controlled centralised securities depository.
The volume of transactions on the Johannesburg Stock Exchange increased from R117 billion in 1996 to R319 billion in 1998. In the Bond Exchange, the volume of transactions increased from R3 trillion in 1996 to R8.5 trillion in 1998. Non-residents now account for about 20 per cent of all these transactions.