Tokyo stock market suffers IT failure
Published: 02 Nov 2005 18:25 GMT
Trading on the Tokyo stock market was suspended for more than four hours on Tuesday after its IT systems failed.
Billions of pounds of trades were reportedly lost as a result of the incident. The crash is the most serious since Tokyo, the world’s second largest market, adopted an all-electronic system in 1999 and ended floor trading.
The trading system is supplied by Fujitsu, which recently rolled out a software upgrade to tackle an increase in the market’s trading volumes. That upgrade is believed to be linked to Tuesday's system failure. The world’s trading markets have experienced technical problems with their IT systems in the past, but rarely approaching this scale
In 2000, the London Stock Exchange delayed the start of trading due to a software glitch which led to incorrect price information being displayed, while the New York Stock Exchange cut trading short by four minutes earlier this year due to an IT problem.
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