The Tokyo Stock Exchange (TSE) experienced a computer error which halted derivatives trading for 95 minutes on Tuesday, marking its second glitch in seven months.
The system failure lasted from 9:20am to 10:55am local time and was due to a failure in its backup systems, similar to the glitch in Feburary, Hiroaki Uji, director of trading systems at TSE, told Bloomberg. The Feb. 2 glitch had been its biggest disruption in six years, halting trading for 3.5 hours in some of the country's biggest companies, according to a seperate report by the newswire.
The error this week had taken place in the system used for derivatives at the bourse, and not Arrowhead--which handles cash equity transactions and was the cause of the Feb. 2 failure, said Hiroki Kawai, director of IT planning and corporate strategy at TSE, at a press briefing in Tokyo on Tuesday night, according to Bloomberg.
A switch that was supposed to automatically activate the backup system did not work, similar to the crash in February, but the exact nature of the first problem or its cause remains unknown, Kawai admitted.
The TSE outage comes a week after Knight Capital Group had been taken to the brink of bankruptcy when alast week triggered a US$440 million loss. A software glitch on Nasdaq in May also .
Earlier in February, Kuala Lumpur-based stock exchange Bursa Malaysia suffered a distributed denial of service attack (DDoS) to its Web site at the end of trading time on Feb. 13, resulting in users experiencing intermittant access to its site.