The Johannesburg Stock Exchange will move to a new trading platform for equities this year, to ramp up speed and avoid embarassing system glitches that have recently plagued trade.
The JSE said is a statement on Thursday it would move to the new system, Millennium Exchange, by the first half of 2012. The platform is expected to boost trading speed by nearly 400 times the present rate, the JSE said.
The platform will be migrated to Johannesburg, from its current location in London. Problems with the JSE's overseas connection caused halts to trade last year.