{"id":44106,"date":"2013-08-13T15:59:38","date_gmt":"2013-08-13T13:59:38","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=44106"},"modified":"2013-08-14T09:08:00","modified_gmt":"2013-08-14T07:08:00","slug":"fnb-ceo-jordaan-to-join-jse-board","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/44106\/fnb-ceo-jordaan-to-join-jse-board\/","title":{"rendered":"FNB CEO Jordaan to join JSE board"},"content":{"rendered":"

The JSE<\/a>\u00a0announced\u00a0on Tuesday (13 August) that Michael Jordaan<\/a>, who retires as\u00a0CEO of FNB<\/a> in December, will join its board\u00a0as a non-executive director.<\/p>\n

Jordaan would join the JSE’s board\u00a0with effect from 1 January 2014. The banking lead said that he\u00a0is also hoping to become a part of tech start-up \u201cvibe\u201d in the Cape in due course.<\/p>\n

\u201cThere\u2019s lots of entrepreneurial things one can do not based in Joburg. The world\u2019s become much smaller and much flatter. Technology allows amazing things, and there is a whole technological start-up vibe in the Cape that I hope to become part of in due course,\u201d Jordaan said.<\/p>\n

The JSE Limited\u00a0reported a 16% rise in group operating revenue of to R793.5 million\u00a0for the six months ended June 2013.<\/p>\n

Group profit for the period improved 191% to R292.7 million and group\u00a0headline earnings advanced 35% to R285.2 million,\u00a0driven by\u00a0the group operating revenue performance in H1 2013 and the effect of\u00a0the impairment in the comparable period in 2012.<\/p>\n

Group operating expenditure was down 3% at R487.8 million, while the group said its cash position is strong at over R1 billion.<\/p>\n

The firm said that phase 1 of its move to T+3 was successfully implemented\u00a0on 21 July 2013. Phases 2 of the T+3 implementation will take place\u00a0in H2 2014 with Phase 3 as soon as possible after that.<\/p>\n

“The JSE will\u00a0only be able to confirm the cost of these implementations once\u00a0detailed technical design work has been completed,” it said.<\/p>\n

It also noted that a new web-based portal through which JSE Market Data clients can\u00a0report their monthly usage direct to the JSE, has been rolled out.<\/p>\n

“This\u00a0reduces administration and complexity enabling JSE sales teams to\u00a0focus on building the Market Data client base and revenue,” it said.<\/p>\n

At the start of August, the JSE said it\u00a0is moving ahead with the construction of its colocation centre to be completed in the first half of 2014.<\/p>\n

Its initial colocation data centre will have space for 35 client racks\u00a0at a capex cost of approximately R50 million, of which the 2013 spend is expected\u00a0to be about R38 million and the remainder in 2014.<\/p>\n

“There will be on going\u00a0spend, the extent of which will depend on the rate at which the\u00a0colocation environment is expanded to meet client needs. Colocation\u00a0will introduce a new revenue line and increase speed of access to and\u00a0liquidity across all markets,” the group said.<\/p>\n

More on the JSE<\/h3>\n

FNB CEO Jordaan steps down<\/strong><\/a><\/p>\n

\u00a0FNB\u2019s Jordaan eyes Cape start-up culture<\/strong><\/a><\/p>\n

JSE unveils co-location centre plans<\/strong><\/a><\/p>\n

JSE sees big jump in interims<\/strong><\/a><\/p>\n

JSE lauds zero trading outages<\/a><\/strong><\/p>\n

JSE lifts capex for tech plans<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The JSE announced that Michael Jordaan, who retires as CEO of FNB in December, will join its board as a non-executive director.<\/p>\n","protected":false},"author":9,"featured_media":30598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[76,26,175,1639],"class_list":["post-44106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-fnb","tag-headline","tag-jse","tag-michael-jordaan"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/44106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=44106"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/44106\/revisions"}],"predecessor-version":[{"id":44155,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/44106\/revisions\/44155"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/30598"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=44106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=44106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=44106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}