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The Johannesburg Security Exchange (JSE) on Thursday requested all traders to stop trading amid a series of blasts that rocked London's financial district.
"In order to assist with the smooth functioning of the market, the JSE requests all members to discontinue use of any automated order entry applications (including Direct Market Access and Own Account applications) immediately," the JSE said in a statement.
"The requirement of warrant issuers to maintain a continuous double price is therefore suspended for this moment," it added.
JSE market participants access the SETS system, which is hosted in London, via a dedicated communications link between Johannesburg and the British capital.
According to London Stock Exchange, it had declared a "fast market" after trading was disrupted by huge volumes and some financial sector companies evacuated their city offices following a series of explosions around the capital earlier on Thursday.
A fast market means that market makers are relieved of their obligation to offer firm two-way prices on stocks traded on the electronic system SETS and on SEAQ.
The JSE weakened sharply in brisk trade, after global markets reeled from a series of blasts that hit London's transport system.
By 12:14 (10:14 GMT), the all share index was down 2.05 percent. Industrials and financials slid 2.26 percent and 2.1 percent respectively. Resources retreated 1.83 percent and the platinum mining index dropped 2.51 percent, while the banks index lost 1.47percent.
The gold mining index leaped 2.57 percent, however, as investors were attracted to the yellow metal's safe haven status.
(Xinhua News Agency July 8, 2005)
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