History
The discovery of gold on the Witwatersrand in 1886 led to many mining and financial companies opening and a need soon arose for a stock exchange.
The Johannesburg Exchange & Chambers Company was established by a London businessman, Benjamin Minors Woollan and housed at the corner of Commissioner and Simmonds Streets. Out of this the JSE was born on 8 November 1887. By 1890 the trading hall became too small and had to be rebuilt but this too was outgrown. Trading then moved into the street. The Mining Commissioner closed off Simmonds Street between Market Square and Commissioner Street by means of chains.
In 1903, a new building was built for the JSE on Hollard Street. It was a storey building that took up an entire whole city block bounded by Fox and Main, Hollard and Sauer Streets.
After World War II, it became apparent that this building was again inadequate and in 1947 the decision was made to rebuild the stock exchange. It took 11 years before construction began and in February 1961 the second exchange at Hollard Street was officially opened. By 1963, the JSE became a member of the Federation International Bourses de Valeurs (FIBV).
In 1978, the JSE took up residence at 17 Diagonal Street near Kerk Street, Johannesburg. 1993 saw the JSE become an active member of the African Stock Exchanges Association. After 108 years, the open outcry system of trading was changed to an electronic system on 7 June 1996.
In September 2000, the Johannesburg Securities Exchange moved to its present location in Sandton, Gauteng and changed its official name to the JSE Securities Exchange.
In 2001 an agreement was struck with the London Stock Exchange enabling cross-dealing between the two bourses and replacing the JSE's trading system with that of the LSE.
Read more about this topic: JSE Limited
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