Traders on the JSE were left frustrated on Wednesday after intermittent system glitches led to the suspension of all trading activity on the local stock exchange for about 30 minutes.
A Johannesburg-based asset manager caught up with his leisure reading and kept glancing at his screen, hoping that normal trading activity would resume. “It’s not a good look at all,” says the Johannesburg-based analyst, citing another incident in August 2021, in which the JSE faced a five-hour systems outage.
The JSE informed clients at 1.48pm on Wednesday about system problems, saying it was aware of “disconnects” across its platform that made it difficult for traders to execute trades. It apologised for the inconvenience and committed to investigating the source of the problem. The Johannesburg-based analyst agrees with Treurnicht: “If there is no liquidity available, I need to find ways to process that liquidity or inflow. It might cause prices to increase significantly as there are no options or bids available. Then I need to sell a big chunk in the market.”
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