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Frustrated JSE Traders Idled After Glitch Paralyzes Bourse

  • Five-and-a-half hour outage caused by record volumes Tuesday
  • Failure spurs calls for more competition in post-trade system
Updated on

Cassie Treurnicht of Gryphon Asset Management caught up with his reading and went for a walk. Petri Redelinghuys of Herenya Capital Advisors Ltd. used the time to catch up with clients, while investor Simon Brown kept his eyes on the screens, waiting for trading to resume. 

They all agree: the five and a half-hour outage on the Johannesburg Stock Exchange that prevented them buying and selling stocks until well into the afternoon on Wednesday was not a good signal for a bourse that touts itself as Africa’s finest, in a country that needs to attract foreign investment to help fuel growth and reduce unemployment.