The JSE Securities Exchange (JSE) is not aware of any of its grain broker members being in financial difficulty and there are no signs that a grain broker member could be placed in default, JSE agricultural products division general manager Rod Gravelet-Blondin said on Monday.
Maize futures on Monday fell to fresh four-year lows on rain and long liquidation.
On January 11, grain broker Dimitra Futures was placed in default and suspended from trading on the exchange in terms of the JSE’s derivatives rules.
In April 2004, another grain broker, Propermark, was placed in default and suspended from trading on the JSE. — I-Net Bridge