UPDATE: S.Africa's stock market trade resumes after network glitch - CNBC Africa

UPDATE: S.Africa's stock market trade resumes after network glitch

Southern Africa

by Reuters 0

South Africa's Johannesburg Stock Exchange was experiencing a network connectivity problem that had delayed the start of trade. PHOTO: Getty

The bourse said it had reopened its auction call session at 11:00 am (0900 GMT) and continuous trading would resume at 11:30 am.

(WATCH VIDEO: WEF ranks JSE first for effectiveness of regulation & supervision)

"The JSE has resolved the network issue and clients should now be receiving multicast data on both the A and B feeds," it said in a statement.

The [DATA JSE:JSE Limited] has been hit by problems with the connection between Johannesburg and London in recent years, sparking system glitches that forced trading to stop several times. One network meltdown in 2010 caused a six-hour halt.

(READ MORE: JSE rebrands to depict a modern African marketplace)

In 2012, the bourse launched a revamped trading platform to woo more business from hedge funds. The new system is based in Johannesburg, unlike its predecessor that was housed in London.

With a market value of nearly 900 billion US dollars, the JSE is Africa's deepest and most sophisticated equities market.