Wednesday, May 9, 2012

Reuters: Financial Services and Real Estate: JSE says to rewrite tech programme, trade not affected

Reuters: Financial Services and Real Estate
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JSE says to rewrite tech programme, trade not affected
May 9th 2012, 06:58

JOHANNESBURG | Wed May 9, 2012 2:58am EDT

JOHANNESBURG May 9 (Reuters) - The JSE Ltd, operator of Africa's biggest bourse, said on Wednesday it would have to completely rewrite a component of its System Replacement Programme (SRP), which is used for administration, not trading purposes.

"We anticipate an impairment to SRP of at least 60 million rand ... to be reflected in the interim financial results for the period ending June 2012," the JSE said.

The SRP is a programme to replace the equity market back office system which JSE members use for administration purposes and related technology. It is not used for trading. (Reporting by Ed Stoddard; Editing by Ed Cropley)

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