19 January 2018
visit http://response.ncr.com

New TSE tech chief to double IT spending

24 January 2006  |  8006 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  |  7209 views  |  0 comments
TSE president Tsurushima quits over computer bungles

TSE president Tsurushima quits over computer bungles

20 December 2005  |  9587 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  |  18708 views  |  0 comments
Fujitsu cuts executives' pay after TSE systems failure

Fujitsu cuts executives' pay after TSE systems failure

28 November 2005  |  7431 views  |  0 comments
Tokyo Stock Exchange slashes executives' pay after systems breakdown

Tokyo Stock Exchange slashes executives' pay after systems breakdown

10 November 2005  |  31679 views  |  0 comments
Fujitsu blamed for Tokyo Stock Exchange systems failure

Fujitsu blamed for Tokyo Stock Exchange systems failure

08 November 2005  |  11174 views  |  0 comments
Tokyo Stock Exchange hit by technical failure

Tokyo Stock Exchange hit by technical failure

01 November 2005  |  7940 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comvisit www.fivedegrees.nlvisit www.niceactimize.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
11214 views comments | 32 tweets | 38 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10330 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9936 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9397 views comments | 18 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8484 views comments | 8 tweets | 6 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job