/ 28 September 1999

JSE LINK-UP WITH LONDON?

THE JSE may link up with London Stock Exchange that will allow the exchanges to trade on the same platform, according to the Business Report. The newspaper reports the JSE’s executive president, Russell Loubser, has refused to confirm this but alluded to a possible alliance in an address to the US-South Africa Business and Finance Forum ’99 in New York last Friday. ”As the global trading environment continues to develop, we will see link-ups that will result in fewer trading platforms and the development of more global, sector-based indices that will put an end to the need for companies to be listed on more than one exchange,” he said. Loubser said it is advantageous for certain local companies to move their primary listings to developed markets, but that South Africa remains a developing market and doesn’t need to loose companies that creat liquidity, the paper reports.