1887 The discovery of the Witwatersrand goldfields in 1886 and the subsequent formation of mining and financial companies, meant investors needed a facility through which to buy and sell shares. Benjamin Woollan provided that facility when he founded the JSE in November 1887. 1963 The JSE was admitted as a member of the Federation Internationale des Bourses de Valuers (FIBV). 1985 The first appointment of an independent businessman as JSE executive president. 1987 The JSE celebrated its centenary on 8 November 1987. 1993 The JSE became an active member of the African Stock Exchanges Association. 1994 The Research report into the structure of the JSE was published in May 1994. The JSE was granted designation by the Japan Securities Dealers Association on 9 December 1994. 1995 On 8 November 1995 the requirement that all stockbrokers be South African citizens was abolished, the South African Institute of Stockbrokers which is responsible for examination, admission, and disciplining of stockbrokers was formed and the option of corporate membership with limited liability subject to the appropriate capital requirements was introduced. The trading entity is now the member. Additionally, ownership of members by non-stockbrokers is allowed subject to the passing of a fit and proper test. This enables, inter alia, banks to operate stockbroking businesses. 1996 On 15 May 1996 , the formal bond market passed from the JSE to the Bond Exchange of South Africa which is licensed as a financial market in terms of the Financial Markets Control Act. Following the closure of the open outcry trading floor on 7 June 1996, an order driven centralised automated trading system known as the Johannesburg Equities Trading (JET) system was introduced together with dual trading capacity and negotiated brokerage. FURTHER INFORMATION CAN BE OBTAINED FROM Internet : http://www.jse.co.za Johannesburg Stock Exchange * Public Relations Department 17 Diagonal Street * Johannesburg 2001 * Telephone 27 11 377 2200 P O Box 1174 * Johannesburg 2000 * Telefax 27 11 834 7402
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4 September 1996