STANBANK: 16,990 -230 (-1.34%)
South Africa launches electronic trading platform for government bonds
JOHANNESBURG, Aug 29 (Reuters) - The Johannesburg Stock
Exchange (JSE) and the London Stock Exchange
launched the country's first electronic government bond trading
platform, offering an alternative to traditional fixed-income
trading via telephone or chat services.
The new system offers public price transparency equivalent
to that seen in currency and equity trading and will use
real-time price data to enhance liquidity in the secondary
market for state debt, the firms said in a statement on
South Africa already has the continent's most developed debt
markets. The JSE's platforms are responsible for the lion's
share of the activity, while foreign investors own close to half
of the country's outstanding public debt, which is ranked among
the highest in emerging markets.
Close to 1,700 debt instrument were listed on the JSE with a
market value of 2.4 trillion rand ($167 billion) in the
financial year ended March 2017, the National Treasury says.
Nine primary dealers had signed on as liquidity providers
for the new platform, the London Stock Exchange's technical
partner MTS said.
The banks are Absa Bank, Citibank, Deutsche
Bank, HSBC, Investec, J.P. Morgan
, Nedbank, Rand Merchant Bank and
($1 = 14.3960 rand)
(Reporting by Mfuneko Toyana
Editing by James Macharia and David Holmes)
© 2018 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.