Johannesburg - South Africa's Financial Services Board (FSB) said on Friday it would look into a programming error that caused the JSE Ltd, which runs the stock exchange, to publish incorrect data about the trading of equities by non-residents.
“The error has raised concerns in the market and amongst fellow regulators. The Financial Services Board wishes to assure the market that it is looking into the circumstances of the lead up and causes of the error, and will be taking appropriate steps in this regard,” the FSB said in a statement.
The incorrect data showed equity net purchases by non-residents of R6.4 billion ($450 million) for May 2016, R63.8 billion for June and R27.9 billion for the first three weeks of July.
The central bank said on Monday the revised data for equity transactions by non-residents was net sales of R16.1 billion for May 2016, net sales of R20.3 billion for June 2016 and net purchases of R50 million for July.
“It is important that the reliability of information released to the public by a market infrastructure, in this case an exchange, is assured and maintained,” the FSB said.
REUTERS