JOHANNESBURG – The Johannesburg Stock Exchange said on Friday it had identified and halted “incorrect” trades from one of its member brokers, and would reverse the trades and lower the session’s total value after the close.
“Until end of day figures are adjusted after the close of trade, the incorrect trades will distort today’s trading value,” exchange operator JSE Ltd said in a statement.
“All incorrect trades will be reversed after the market closes and today’s trading value will be adjusted downwards.”
The JSE’s benchmark Top-40 index was down 0.4 percent at 29,021.55 at 1124 GMT.
The error was on the part of the broker and not the JSE, said Michelle Joubert, head of investor relations at the bourse.
Both stock market and the broker were investigating the incident, she said, it was unclear how many stocks were affected and how much money was involved.