The JSE plans to reduce its technology operating expenditure by a minimum of R70-million over a two-year period, which will also result in the stock exchange reducing its staff complement by 60 people. Noting that the plans form part of its ongoing cost optimization drive, JSE CEO Nicky Newton-King said globally, securities exchanges and other players in the financial services industry were adjusting how they operate in response to changing regulatory requirements and the fast-pace of technological developments.
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