28 July 2016
Find out more

New TSE tech chief to double IT spending

24 January 2006  |  7599 views  |  0 TSE

The Tokyo Stock Exchange has recruited Yoshinori Suzuki as its new chief information officer with a brief to oversee the upgrading of its electronic trading system.

According to press reports, the exchange aims to more than double spending on IT over the next three years in order to enhance its faltering trading systems.

The appointment of Suzuki as technology chief follows last Wednesday's emergency shut down when the exchange was forced to close trading 20 minutes early because its trading system was unable to cope with a surge in sell orders.

The exchange had earlier warned investors that if the system limit of four million transactions was reached it would be forced to halt trading.

Following system tests over the weekend, the exchange said on Sunday that its system could now handle up to five million transactions daily, but it would keep shortened trading sessions which were introduced following the shut down last Wednesday.

Last week's shut down was the latest in a series of problems with the TSE's trading platform and follows an incident last month where the exhange's systems failed to cancel a mistaken order from a Mizuho trader to sell 610,000 shares for 1 yen, instead of one share for 610,000 yen. That glitch came only weeks after the TSE suffered a systems crash that halted trading for more than four hours on 1 November 2005.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Panic selling forces Tokyo exchange shutdown

Panic selling forces Tokyo exchange shutdown

18 January 2006  |  6877 views  |  0 comments
TSE president Tsurushima quits over computer bungles

TSE president Tsurushima quits over computer bungles

20 December 2005  |  9229 views  |  0 comments
Tokyo Stock Exchange admits error in Mizuho trade botch-up

Tokyo Stock Exchange admits error in Mizuho trade botch-up

12 December 2005  |  17489 views  |  0 comments
Fujitsu cuts executives' pay after TSE systems failure

Fujitsu cuts executives' pay after TSE systems failure

28 November 2005  |  7051 views  |  0 comments
Tokyo Stock Exchange slashes executives' pay after systems breakdown

Tokyo Stock Exchange slashes executives' pay after systems breakdown

10 November 2005  |  31256 views  |  0 comments
Fujitsu blamed for Tokyo Stock Exchange systems failure

Fujitsu blamed for Tokyo Stock Exchange systems failure

08 November 2005  |  10751 views  |  0 comments
Tokyo Stock Exchange hit by technical failure

Tokyo Stock Exchange hit by technical failure

01 November 2005  |  7487 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit capgemini.comFind out more

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9513 views comments | 9 tweets | 4 linkedin
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9485 views 14 comments | 33 tweets | 38 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8338 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6446 views comments | 15 tweets | 19 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
6064 views 0 | 12 tweets | 3 linkedin

Featured job

Find your next job