FSB probes pro­gram­ming er­ror be­hind JSE gl­itch

Weekend Argus (Saturday Edition) - - LIFE -

THE Fi­nan­cial Ser­vices Board (FSB) has said it would look into a pro­gram­ming er­ror that caused the JSE, which runs the stock ex­change, to pub­lish in­cor­rect data about the trad­ing of equities by non-res­i­dents.

“The er­ror has raised con­cerns in the mar­ket and amongst fel­low reg­u­la­tors. The Fi­nan­cial Ser­vices Board wishes to as­sure the mar­ket that it is look­ing into the cir­cum­stances of the lead up and causes of the er­ror, and will be tak­ing ap­pro­pri­ate steps in this re­gard,” the FSB said in a state­ment yes­ter­day.

The in­cor­rect data showed eq­uity net pur­chases by non­res­i­dents of R6.4 bil­lion for May 2016, R63.8bn for June and R27.9bn for the first three weeks of July.

The cen­tral bank said on Mon­day the re­vised data for eq­uity trans­ac­tions by non­res­i­dents were net sales of R16.1bn for May 2016, net sales of R20.3bn for June 2016 and net pur­chases of R50 mil­lion for July.

“It is im­por­tant that the re­li­a­bil­ity of in­for­ma­tion re­leased to the pub­lic by a mar­ket in­fra­struc­ture, in this case an ex­change, is as­sured and main­tained,” the FSB said. – Reuters

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.