Torrent of trade in Naspers/Prosus trips up JSE’s systems

The JSE, Africa's largest stock exchange and one of the oldest on the continent, was red-faced when forced to delay the start of stock trading by hours on Wednesday after it failed to complete processing. of large trade volumes of the previous day. .

The unusually large volumes stemmed from a share swap involving Naspers and Prosus that was first announced in May, ironically to help reduce the internet investor's oversized impact on the local market. The local stock exchange suffered a systems failure, but finally resumed trading at around 1.30pm, more than four hours late ...