Troubled TSE to overhaul its platform
The Tokyo Stock Exchange takes action following trading problems
The Tokyo Stock Exchange is planning a major overhaul of its computer system over the next two or three years, following recent trading errors, say exchange officials. The announcement comes less than a month after a botched trade on December 8 resulted in $300 million of losses for a Mizuho Securities broker and cost TSE head Takuo Tsurushima his job.
"There has been a rapid increase in the number of trading orders," says the spokesman. "It is becoming more difficult to efficiently accommodate
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