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TSE plans $529 million e-trading system upgrade

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The Tokyo Stock Exchange plans to spend $529 million on upgrades to its electronic trading platform, after a year of operational embarrassment.

The exchange will spend $128 million on improving existing systems, $256 million on replacements and $145 million on a back-up site over the next three years, says TSE chairman Taizo Nishimuro.

As a response to several system failures, the exchange promised in February to increase its capacity from 9 million to 12 million orders a day by May, and to 14