S. Africa bourse sacks executive for irregular trades

Wednesday, 9 November 2011 00:01 - - {{hitsCtrl.values.hits}}

JOHANNESBURG, (Reuters): The Johannesburg Stock Exchange said on Tuesday it had sacked the head of its equity derivatives trading business for irregular trading on his own account.

“Allan Thomson, previously director of equity derivatives trading at the JSE, was dismissed from the JSE on 4 November. This followed an investigation into irregular share trading on his own account and, subsequently, a disciplinary process,” the bourse said in an e-mailed statement.

Graham Smale, currently directory of interest rate products, will take over Thomson’s duties until a permanent replacement is found, the JSE said.

Russell Loubser, Chief Executive of exchange operator JSE Ltd, was not immediately available for comment.