• SHARE

Fifty Japanese and foreign brokerages have offered to give up a combined 20.9 billion yen in profits they made by exploiting a trading error involving shares of staffing firm J-Com Co. in December, an industry group said Tuesday.

The money will go into a “securities market infrastructure development fund” the Japan Securities Dealers Association recently set up. Some of it will be used for such means as developing a computer system to back up the existing trading systems at stock exchanges and brokerages in the event of emergencies, JSDA said.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW