“The past 15 years have been a time of extraordinary development for the JSE,” Loubser said in a statement. “The diversity of revenue streams in the business reflects the fundamental nature of its transformational journey.

“The JSE’s ability to remain competitive in our fast changing industry has been maintained through continued growth in product range and trade volumes, as well as tight management of costs while still maintaining world class standards.”

Loubser was speaking as the JSE announced 9% revenue growth in 2010, to R1.25bn ($179m). Operating costs grew by 8% to R879m, driven partly by large IT projects. Net profit grew from R366m to R378m.

Trading in the Safex equity derivatives market grew in terms of value and number. However, revenue fell slightly, which the bourse blamed on a change in product mix. Trade in international derivatives also grew.

Trading in currency derivatives fell compared to 2009, though the commodity derivatives market grew 12% to 2.1m contracts.

Bucking the trend at many global exchanges, revenue from issuer services rose from R79m to R86m, while equity trading revenue swelled by 5% to R325m.