A computer glitch halted trading of bond and stock index futures for much of the day on the Tokyo Stock Exchange yesterday, The International Herald Tribune reports.
“It matters from the point of view of market confidence and governance at the organization,” Neil Katkov, head of Asia research at the financial consultancy Celent, told the newspaper. “System issues happen at a lot of exchanges. They seem to be pretty major when they happen at the TSE.”
The computer problems are just the latest in a pattern that have plagued the Japanese exchange. In 2006, computer mishaps forced the resignation of the exchange’s president, Global Custodian magazine reported at the time.