Japan regulator orders Tokyo exchange to report on system glitch: source

A TV reporter stands in front of a large screen showing stock prices at the Tokyo Stock Exchange after market opens in Toky
A TV reporter stands in front of a large screen showing stock prices at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon

October 2, 2020

TOKYO (Reuters) – Japan’s financial regulator has ordered the Tokyo Stock Exchange (TSE) and its owner, the Japan Exchange Group, to report on a system glitch that halted trade all day on Thursday, a person familiar with the matter said.

The Financial Services Agency also asked the Tokyo exchange to report its steps to prevent a recurrence, added the person, who sought anonymity as the information is not public.

On Thursday the bourse said the glitch was the result of a hardware problem in the exchange’s “Arrowhead” trading system, and a subsequent failure to switch to a back-up.

Regular trade resumed on Friday, with the main index closing out a volatile session capped by news of U.S. President Donald Trump testing positive for the coronavirus.

(Reporting by Takahiko Wada; Writing by Daniel Leussink; Editing by Clarence Fernandez)