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Tokyo Glitch
Trading in 241 stocks traded on the Tokyo Stock Exchange was halted for yesterday’s entire morning session due to a “technical glitch”.
The problem included a block on trading in the Topix Core 30 Exchange Traded Fund which is extensively used by many computer-driven traders.
The problem comes at a difficult time for the exchange in the light of aggressive competition from alternative trading venues such as SBI Japannext and Chi-X Japan.
The Japanese Securities Dealers Association prevented trading in these 241 stocks from continuing on these venues whilst the TSE was down.
There has now been a call for trading regulations to be relaxed to allow these venues to operate on the same basis as the TSE.
The TSE has not been able, as yet, to provide an explanation as to what caused the outage.
