The impact of technological improvements on developing financial markets: The case of the Johannesburg Stock Exchange

Dicle, Mehmet F.; Levendis, John

doi:10.1016/j.rdf.2013.09.001

Cited by 7 publications

(4 citation statements)

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“…Trading in financial instruments should be allowed for both exchange and non-exchange segments, although some instruments will naturally take their place in the stock market and some in the non-market segment. With the aforementioned approach, all tools should be given the maximum opportunity for development (Dicle & Levendis, 2013).…”

Section: And Derivativesmentioning

confidence: 99%

Politics and Business: The Policy on Tin Mining in Bangka

2019

Int. j. bus. econ. aff.

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Topics related to financial market evolution have been researched and are still under exploration of many successful institutions and internationally recognized economists, including Nobel Prize laureate academics. Today, on the background of the progress of globalization and computer technologies, scientific interest in the issue is increasing day-by-day. It is especially interesting to explore the capital market or long-term securities market. The capital markets in emerging countries are still underdeveloped. The main source of attracting financial resources for business is the loan taken from commercial banks, and the source of financing with equity capital is relatively unused. Therefore, the goal of the paper is to analyze current standing of capital markets and show the possible solutions for the further development, by observing the examples of several countries. In order to achieve the goal, the paper describes the historical context and current status of the securities markets in developing countries, especially in Georgia and evaluates it. Finally, the paper presents number of recommendations in order to make capital market more attractive for investors. Research is basically based on studies of Georgian capital markets and is designed so as to address real world problem and to contribute to academic literature with regard of financial markets. Therefore, its results will be useful and interesting not only for developing countries, but also for asset management companies and investment banks.

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Section: And Derivativesmentioning

confidence: 99%

Politics and Business: The Policy on Tin Mining in Bangka

2019

Int. j. bus. econ. aff.

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“…Krishnamurti et al (2003) argue that level of technology in India's two exchanges (NSE and BSE) positively affects the attention of small and medium investors. Dicle and Levendis (2013) study the effect of a technological upgrade on the Johannesburg SE in 2002. Utilizing daily data for ten years, they find that while liquidity improves following the upgrade, the level of efficiency remains unchanged.…”

Section: Literaturementioning

confidence: 99%

Technology upgrades in emerging equity markets: Effects on liquidity and trading activity

Yılmaz

Erdem

Eraslan

et al. 2015

Finance Research Letters

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“…The new system increased the transparency, liquidity of trading, and investors' confidence in the JSE; it also helped reduce trading thinly. Dicle and Levendis (2013) analysed the effect of the implementation of the SETS, the authors found that trading activity doubled, and trading became cheaper after the implementation of the system. Moreover, they argued that lower trading costs and increased activity led to significantly improved market efficiency at the JSE equity market.…”

Section: Introductionmentioning

confidence: 99%

Factors influencing blockchain adoption in the South African clearing and settlement industry

Dowelani

Okoro

Olaleye

2022

SAJEMS

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New technologies create opportunities to enhance and revolutionise current processes (Greco 2019). In 1997, STRATE was introduced; this system allowed for the replacement of paper Background: The adoption of and improvements in new technology in the South African capital market historically led to increased trade capacity and liquidity, which may be linked to the growth in market size.Aim: In this study the aim is to investigate factors that will influence the adoption of blockchain technology in the South African clearing and settlement industry.Methods: In this study semi-structured interviews to collect data among stakeholders in the clearing and settlement cycle/process of securities in the South African capital market are employed. Participants were identified through a combination of purposive, snowball sampling and targeted sampling using social media. Data were analysed using thematic data analysis with the aid of Atlas.ti software. Setting:The South African capital market, with specific focus on the clearing and settlement of equity.Results: This study identifies People, Organisation, Technology, Industry and Country (POTIC) as factors important in influencing blockchain technology adoption in South Africa. The study expands and contributes to traditional frameworks for adopting blockchain technology in the South African clearing and settlement industry by adding five factors: trust, load shedding, unemployment/layoffs, current infrastructure, useful life and educational campaigns. Conclusion:The POTIC framework will be beneficial to the Johannesburg Stock Exchange (JSE) and Shares Transactions Totally Electronic (STRATE) when considering the adoption of blockchain technology for the integration of trade, execution and post-trade services to reduce the settlement cycle. In addition, when regulators need to formulate new regulations they will benefit from considering the POTIC framework.

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The impact of technological improvements on developing financial markets: The case of the Johannesburg Stock Exchange

Cited by 7 publications

References 20 publications

Politics and Business: The Policy on Tin Mining in Bangka

Politics and Business: The Policy on Tin Mining in Bangka

Technology upgrades in emerging equity markets: Effects on liquidity and trading activity

Factors influencing blockchain adoption in the South African clearing and settlement industry

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