The Tokyo Stock Exchange is to delay the launch of its next generation trading system from late 2009 to the first business day of 2010 following consultation with CIOs from major trading firms on the Exchange.
The new 'arrowhead' trading engine is being developed by Fujitsu following a string of embarrassing failures and capacity problems on the legacy Fujitsu-built platform.
The Exchange says the move to a 2010 launch date will enable six months of interface testing with trading participants and a cut-over during the four-day New Year holiday season.
The TSE says the new platform will conform to 21st century requirements for sub-second latency and deep memory back-up.
In a statement, the Exchange says: "The TSE maintains its commitment to continue to develop and launch arrowhead."
The latest setback follows a series of computer glitches on the Exchange's new derivatives trading platform, which was introduced in January of this year. The TSE is also committed to launching a new options trading system T-Dex+, developed by Liffe, in mid-2009.