Every month (and every quarter) the Johannesburg Stock Exchange closes derivative and equity trading on for 25 minutes. In the middle of the day, nje just like that, from 11h55 until 12h20. Now don’t get frustrated, because this does not happen randomly.
The JSE has predetermined dates in which the quarterly close-outs take place. In fact, this closeout should happen on the third Thursday of each month.
What and why the quarterly close-out?
This temporary halt on the markets happens for all JSE listed equities and in addition to determining opening and closing prices, it also done to facilitate the transaction of significantly large volumes. This is done through auction, which happens beyond retail investors’ reach. The 25-minute halt affects everyone buying and selling shares on the JSE – so don’t feel hard done, we’re all in it together.
When does this happen?
It happens on the third Thursday of every month, but we have the dates for 2020 below:
- 16 January 2020
- 20 February 2020
- 19 March 2020 (Quarterly close-out)
- 16 April 2020
- 21 May 2020
- 18 June 2020 (Quarterly close-out)
- 16 July 2020
- 20 August 2020
- 17 September 2020 (Quarterly close-out)
- 15 October 2020
- 19 November 2020
- 17 December (Quarterly close-out)
Share this with a friend and save someone the heartache of thinking the world has stopped. It’s just an auction, nothing too serious that hasn’t been happening for years. In the meantime, there are other fun things to do that would last 25 minutes. You could:
Watch two short films, apply and remove a facemask, listen to at least two Frank Ocean songs, craft the perfect message to dive in your crush’s DMs, make an egg sandwich, midday shower, etc. Hit me up on Twitter for more tips on how to make it through the 25-minute wait. Otherwise, for help on the platform, check out our sexy new Help Center.