JSE Set to Almost Double Spending to Speed Up Settlement System
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JSE Ltd., which operates Africa’s largest debt and equity markets, plans to increase capital spending by more than 80 percent as it speeds up systems to deliver and pay for securities transactions.
The Johannesburg Stock Exchange has made moving to three-day settlement from five days a top priority to keep pace with global bourses and potential local competitors, Chief Executive Officer Nicky Newton-King said by phone from Johannesburg on Thursday. It also wants to upgrade derivatives trading and clearing operations, she said.