Johannesburg Stock Exchange Strategic Review

Further to recent speculation concerning the strategic review conducted by the JSE in March 2000, the JSE would like to state that: The JSE’s strategic review was initiated in the interest of further economic liberalisation and deregulation, the reduction of costs and the maximising of efficiencies and international best practice. The review commenced in December 1999 and is not in reaction to any recent events. To date the JSE has consulted with a broad selection of its users to ascertain which aspects of its systems, processes and services could be improved. The JSE will continue to seek consultation and interaction from these audiences.

The JSE continually reviews sourcing options in order to provide efficiency and best practice. Throughout any sourcing review process, the JSE has kept staff fully informed.

The rapid evolution of IT systems requires continual monitoring by all companies and the JSE is no exception. The JSE is currently reviewing the continued applicability of the JET system. The JSE will fully investigate the implications of any alternatives before any progression, or further communication with the Committee or members, is sought.

Comments Russell Loubser, executive president: “Like all businesses we aim to maximise the efficiency of the JSE, its systems, processes and services. Post the millennium, and with the rapidly changing structures of global stock exchanges, we have embarked on a strategic review in association with our members and users. The review, and the initiatives that have arisen from it, are the result of our own actions and the JSE’s willingness to provide international best practice. With this in mind we will continue to consult and work with these audiences in order to achieve that standard.”