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                                     NICKY NEWTON-KING


Nicky Newton-King is the Deputy CEO of the JSE Securities Exchange and member of the
JSE’s Executive Committee. She is also a member of the JSE’s Board of Directors.


Ms Newton-King graduated from the University of Stellenbosch with BA LLB degrees and in
1994 obtained an LLM degree with first class honours, from the University of Cambridge,
England. While at Cambridge, she was awarded a Foundation Scholarship for academic
achievement by her college, Queens’. During her LLM, she specialised in corporate finance,
securities regulation and administrative law.


Until June 1996, when she joined the JSE, Ms Newton-King was a partner in the Financial
Services Unit of one of South Africa’s largest legal firms, Webber Wentzel Bowens, where
she advised clients in the securities and financial services industry. She was responsible for
developing one of the first derivatives law practices in South Africa. While at Webber Wentzel
Bowens, Ms Newton-King was closely involved in advising the JSE on all aspects of its
business including its deregulation and the application and amendment of the JSE’s rules and
listings requirements.


Ms Newton-King is responsible for negotiating and implementing the JSE’s major corporate
transactions such as the acquisition of the South African Futures Exchange and the
integration of STRATE and UNEXcor, the two settlement houses in the country. She leads a
team of lawyers who advise the JSE on all aspects of law that affect the operation and
regulation of a stock exchange and, in particular, prepares and presents the JSE's
representations to Parliament and other bodies on proposed legislation which may affect the
financial markets in South Africa.


She was responsible for drafting a large portion of the Insider Trading Act, 1998, which is a
world leader of its type of statute in that it provides for people who suffered loss as a result of
insider trading to receive compensation. She was also instrumental in framing the legislation
which enabled the dematerialisation of securities and which required the disclosure of
beneficial interests in securities. Recently, Ms Newton-King has worked closely with the JSE’s
regulators to draft the Securities Services Bill, which will replace all existing legislation
regulating the financial markets industry in South Africa. This legislation is currently before the
South African Cabinet.


For two years, and in addition to her other responsibilities, Ms Newton-King also lead the
JSE’s Human Resources team as the JSE embarked on an extensive consultative process
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with all its staff to introduce an Affirmative Action Policy and Employment Equity Plan. This
involved considerable management of the expectations and fears of all involved.


As Deputy CEO, she is responsible for the strategic development and management of the
JSE’s data vending business, a major contributor to the JSE’s income stream. She is also
responsible for the JSE’s eCommerce initiatives which are aimed first at ensuring that as
many aspects of the JSE’s business as possible are electronically enabled and accessible to
the JSE’s clients and second at attracting and retaining clients to the JSE, particularly through
its web site (www.jse.co.za).


Ms Newton-King manages the JSE’s relationship with privatising entities such as Telkom
where the focus has been on advising such entities on possible ways to ensure that their
privatisation result in as wide as possible spread of shareholders, particularly to people from
previously disadvantaged groups.


She also is responsible for the management and development of the JSE’s indices. As a result
of her initiatives, the JSE entered into a joint venture with FTSE International, the global index
provider. On 24 June 2002, FTSE and the JSE released the FTSE/JSE Africa Index Series
which replaced the JSE’s then existing index series and which embraces world trends of free
float weightings and liquidity screens. For the first time South Africa now has indices which are
accepted by international investors and regulators as was demonstrated by the recent US
Commodities and Futures Trading Commission decision to recognise JSE listed derivatives on
the new FTSE/JSE Top40 index as being acceptable for sale in the USA to American citizens.


For the past 18 months she has been leading the JSE’s initiative to develop a socially
responsible investment index for the South African market. This has involved creating an
Advisory Committee of thought leaders in this area to advise on draft rules for the proposed SRI
Index. The JSE expects this initiative together with the impact of the Second King Report into
Corporate Governance to contribute significantly to the continually rising awareness of South
African companies of good triple bottom line practices.


Ms Newton-King is also a member of the Standing Advisory Committee on Company Law, the
Financial Centre for Africa’s strategy committee which is responsible for developing strategies to
position South Africa as a Financial Centre for Africa and the Financial Markets Advisory Board.


Ms Newton-King chairs the JSE’s Art Committee which focuses on supporting South African
artists from previously disadvantaged groups by purchasing interesting works from them and
displaying them at the JSE.


Ms Newton-King was named the Businesswoman of the Year 2003.




16 Sept 2003                                                                 ruler: biographical sketch
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16 Sept 2003   ruler: biographical sketch

				
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