Ricochet News

Network connectivity problem delays JSE trading on Monday

By Tai Chishakwe - Sep 15, 2014
Network connectivity problem delays JSE trading on Monday

The Johannesburg Stock Exchange (JSE), Africa’s deepest and most sophisticated equities market, experienced a network connectivity problem that had delayed the start of trade on Monday, the bourse said in a statement.

The glitch resulted in a reboot of one of the JSE’s trading switches.

"Some equity market clients may lose connectivity temporarily. Please note this will not affect any other market connectivity as only the equity market operates through this trading network," it said.

The JSE has been plagued by problems with the connection between Johannesburg and London in recent years, sparking system glitches that forced trading to stop several times.

A network meltdown in 2010 caused a six-hour halt.

In 2012, the JSE launched a revamped trading platform to woo more business from hedge funds. The new system is based in Johannesburg, unlike its predecessor that was housed in London.

The JSE has a market value of nearly $900 billion.