Fujitsu still investigating reason behind Tokyo STOCK MARKET outage, says CEO
Fujitsu Ltd, the developer of the Tokyo Stock Exchange's trading system, is still investigating factors behind the bourse's worse-ever outage the other day, the company's chief executive said on Monday.
A hardware glitch paralyzed trading in the world's third-largest equity market for the whole session last Thursday, testing the exchange's credibility just as the country's new prime minister has prioritized digitalization.
"We can make utmost efforts to obtain the causes and stop recurrences of such troubles," Fujitsu CEO Takahito Tokita said at a previously scheduled briefing on the business's digital strategy.
The TSE has said the glitch was the consequence of a hardware problem at its "Arrowhead" trading system, and a subsequent failure to change to a back-up. It caused the first full-day suspension since the exchange switched to all-electronic trading in 1999.
Arrowhead, developed by Fujitsu, debuted in 2010 2010, bringing processing times for trades to 5 milliseconds - on a par with the brand new York and London stock exchanges at that time. The machine got an overhaul last November, and currently processes orders in about 0.2 milliseconds.
Asked who was in charge of the machine failure, Tokita said it had been too early to state as the investigation was still ongoing. He declined to comment further on a client's business.
The TSE has said it does not have any plans at this point to ask Fujitsu for compensation. Tokita said Fujitsu had made no decision on the issue.
Source: japantoday.com
