The Tokyo Stock Exchange halted trading of Topix index futures Friday because of computer problems.
Transactions on contracts expiring in March stopped at 10:59 a.m., the bourse said. Normal trading hours are 9 to 11 a.m. and 12:30 to 3:10 p.m. Monday to Friday, with about ¥650 billion in securities changing hands each day.
The stoppage may further damage the TSE's reputation, which has been tarnished by several glitches over the past three years, as the exchange prepares to go public and explore alliances to grab a larger share of global trading.
"It just shows that the TSE has done a poor job in revamping its operations and systems," said Mitsushige Akino, chief investment officer at Ichiyoshi Investment Management Co. in Tokyo. "Japan has a lot of catching up to do."
The exchange is examining the cause of the stoppage along with system developer Fujitsu Ltd., said Masayuki Hirose, director of the bourse's information technology department. Officials will decide by Monday evening if futures trading can resume the next day, Hirose said. Japanese markets are closed Monday for a national holiday.
Hirose declined to say if the TSE will ask Fujitsu to compensate it for the malfunction of the trading system, which was installed Jan. 15.
The bourse halted all trading for the first time ever in November 2005 after a system failure.