July 29, 2016 / 10:11 AM / a year ago

UPDATE 1-South Africa regulator to look into incorrect bourse data

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JOHANNESBURG, July 29 (Reuters) - 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 6.4 billion rand ($450 million) for May 2016, 63.8 billion rand for June and 27.9 billion rand 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 16.1 billion rand for May 2016, net sales of 20.3 billion rand for June 2016 and net purchases of 50 million rand 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.

$1 = 14.1775 rand Reporting by Ed Stoddard; Editing by James Macharia

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