Money SA economy
Local dealers pointed to a frustrating day on the JSE on Tuesday following a technical problem on the cash equities market, which halted trading shortly after the market opened at 09:00.
The JSE moved to an opening auction at 15:05 and continuous trading at 15:20, the bourse confirmed a short while ago. A local trader said: "It's been frustrating," noting that it was the second time in three weeks that the local bourse had been hit by a technical glitch, delaying trade. It has been a long day and will be even longer now that they have extended trade by an hour," she said.
"I am pretty sure we will hear a response from the JSE shortly as to whether or not they will extend trading hours, but it has been a pretty frustrating day," said one other trader. "The guys at the JSE will no doubt be equally frustrated, and would have done all that they can to get back up to speed.”
Another trader went as far as calling the JSE "useless", bemoaning a lack of communication from the group. "We have had two updates from them the entire day," he said. "I see they have extended trading hours by an additional hour, like we really want to be here. I am fed up with them, there has to be accountability for this mess," he said.
This is the second time in three weeks that the local bourse has been hit by a technical problem.
On July 12, the JSE experienced technical issues, which affected the exchange's international connectivity and forced the market to commence trading at 10:30.
According to the latest communiqué from the JSE, the market will trade for an additional hour to make up for some of the lost time, closing at 18:00.
