JSE Limited, the operator of the South African bourse, will institute cost-cutting measures as part of its efforts to become "as nimble and as cost-effective as possible", CEO Nicky Newton-King says. Newton-King said on Friday that to achieve agility, the group would re-engineer its cost base. This would include the retrenchment of up to 60 people from its staff. "We are taking these difficult steps, particularly regarding our staff, while recognising our responsibility to operate the JSE so as to enhance the trust in the South African financial markets," she said. The changes to be implemented were not as a direct result of the new competition, but of the overall environment in which the company operated, Newton-King said. "The stock exchange space is becoming more demanding. Global securities exchanges and other players in the financial services industry are changing the way in which they operate in response to regulatory and technology developments. "The macroeconomic environment...
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