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Johannesburg Stock Exchange launches trading platform for government bonds

The Johannesburg Stock Exchange on Aug. 29 launched an electronic trading platform for government bonds.

The platform is a collaboration among JSE Ltd., South Africa's National Treasury, the Central Securities Depository, the Financial Sector Conduct Authority and banking institutions servicing primary dealers. The new platform would allow issuers to transact anonymously, resulting in lower transaction costs and more price discovery, and allow traders to see live pricing.

More than 2 trillion South African rand in government bonds are currently listed on JSE's debt board, accounting for more than 90% of all debt market liquidity, according to the exchange.

As of Aug. 29, US$1 was equivalent to 14.41 South African rand.