The Johannesburg Stock Exchange (JSE) has resumed trading on the equity market, after pausing the market at 10.39am this morning, because of issues with the international links between the exchange and London.
The bourse said in a statement it re-established forced connectivity on an alternative network route through manual intervention and reopened the market at 11:50am, after a five-minute open auction. “The JSE regrets the market pause.”
Earlier this morning, the JSE explained it had issues connecting with its trading engine, which is located in London.
The bourse is working on implementing a new trading system, which will be located in Johannesburg, and should go live in July. The new system is aimed at eliminating trading halts and increasing trading speeds.
The JSE has signed a licensing agreement with MillenniumIT to move its equity market trading activity onto Millennium Exchange. The move will speed up trades by 40 times and also provide more stability in the trading platform as dealings will be settled in Johannesburg and not London.
Last July, an outage halted equity trading for 34 minutes, because of the international link between the bourse and London.
In the middle of last year, a technical issue with international connectivity delayed the bourse's opening by an hour-and-a-half. In July 2008, the JSE was hit by a network issue, which delayed the opening of the market until 3pm.
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