Criminal Investigation Of Internet Firm Causes Another Glitch At TSE

As prosecutors raided Internet firm Livedoor Co., the Tokyo Stock Exchange (TSE) was hit with a deluge of sell orders that, ultimately, caused the exchange to close 20 minutes early on Wednesday
By None

As prosecutors raided Internet firm Livedoor Co., the Tokyo Stock Exchange (TSE) was hit with a deluge of sell orders that, ultimately, caused the exchange to close 20 minutes early on Wednesday, according to news reports.

“The number of orders and executions at Tokyo Stock Exchange has seen a sharp increase today, and the number of executions may possibly exceed the ability of the system to process them all. We deeply apologize for the great inconvenience that this has caused for all investors and concerned parties,” stated the TSE’s Web site, whose computer system was suspended as the number of trades threatened its 4.5 million trades-per-day capacity.

Although this was the first time that trading was halted on the exchange due capacity constraints, the computer system has experienced a number of glitches that led to the TSE’s president resigning last month.

Taizo Nishimuro, the current president and CEO of the TSE, is slated to make an official announcement concerning the event tomorrow morning.

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