ABSTRACTThe implementation of different business models has enabled financial markets to not only create value for their benefits, but it has also helped them contribute to economic growth, as well as fulfil their roles in the society. However, the impacts of technological advancements, cross-border flows and regulations continually introduce new dynamics into the business environments of financial markets and as a result, financial markets are faced with future uncertainties. These have increased the dire need for markets to continue to devise methods that can be adapted to survive and thrive in the economy. Hence, financial markets are focusing on profitability than growth, or ideally profitable growth. As a means to achieve this, financial markets need to continually innovate and re-examine their business models to sustain growth. However financial markets still have to adapt general business model frameworks to design new business models because of the lack of a business model framework that has been designed specifically to meet the needs of financial markets. In the midst of these uncertainties, "business as usual" is not an option for a sustainable future; financial markets need sustainable business models that can be used to future proof their business strategies and create long-term value.This research identifies the need for sustainable business models in financial markets and identifies the lack of a framework for sustainable business models. Hence it aims at developing a business model framework that can be used to develop sustainable business models; with an objective of achieving long-term profitability while only having a minimal long lasting impact on the physical and social environments and to be sufficient enough to compare the business models of financial markets. This research contributes to the knowledge of business models, sustainability, and competition in financial markets.