(Adds JSE comments)
JOHANNESBURG May 25 (Reuters) – 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.
(Reporting by Helen Nyambura; editing by David Dolan)
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