• Jiji


A panel set up by the Tokyo Stock Exchange on Friday agreed to produce an interim report this year on proposed rules to ensure swift resumptions of trading after system trouble.

At its first meeting, the panel decided to set up a working-level task force to study issues related to the rules.

“We deeply apologize for causing great trouble to parties concerned,” TSE President and CEO Koichiro Miyahara said at the beginning of the meeting.

“As the operator of the market, we’ll discuss ways to deal with a system glitch, make clear rules on trading halts and resumptions, and send out information,” Miyahara said.

The panel includes executives from Japanese and foreign brokerage firms as well as a system developer and the TSE. Representatives from the Financial Services Agency and securities industry groups also joined the meeting as observers.

The TSE plans to draw up rules on trading after a system problem as early as March next year.

Friday’s meeting came after the TSE suspended trading in all listed stocks for the entire day earlier this month due to a system glitch.

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.