Fujitsu still investigating causes of Tokyo stock bourse outage, says CEO By Reuters


© Reuters. FILE PHOTO: A man works at the Tokyo Stock Exchange after market opens in Tokyo

TOKYO (Reuters) – Fujitsu Ltd (T:), the developer of the Tokyo Stock Exchange’s trading system, is still investigating causes of the bourse’s worse-ever outage last week, the company’s chief executive said on Monday.

A hardware glitch paralysed trading in the world’s third-largest equity market for the entire session last Thursday, testing the exchange’s credibility just as the country’s new prime minister has prioritised digitalisation.

“We will make utmost efforts to find the causes and prevent recurrences of such troubles,” Fujitsu CEO Takahito Tokita said at a previously scheduled briefing on the company’s digital strategy.

The TSE has said the glitch was the result of a hardware problem at its “Arrowhead” trading system, and a subsequent failure to switch to a back-up. It caused the first full-day suspension since the exchange switched to all-electronic trading in 1999.

Arrowhead, developed by Fujitsu, debuted in 2010, bringing processing times for trades to 5 milliseconds – on a par with the New York and London stock exchanges at the time. The system got an overhaul last November, and currently processes orders in about 0.2 milliseconds.

Asked who was responsible for the system failure, Tokita said it was too early to say because the investigation was still ongoing. He declined to comment further on a client’s business.

The TSE has said it has no plans at this point to ask Fujitsu for compensation. Tokita said Fujitsu had made no decision on the issue.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Be the first to comment

Leave a Reply

Your email address will not be published.


*