Japanese Derivatives Halted After Osaka System Crashes
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Nikkei 225 Stock Average futures volume plunged more than 90 percent today as a software error forced a halt to Osaka trading of some derivatives, the first outage for Nasdaq OMX Group Inc. technology installed in 2011.
Trading of Nikkei 225 options and futures in Japan resumed at 2:10 p.m. The failure began at 10:20 a.m. when a program processing index options stopped responding, Osaka Securities Exchange Co. Managing Director Yoshinori Karino said at a press briefing. The volume of March contracts traded plummeted to 5,718, about 7 percent of the 14-day moving average, according to data compiled by Bloomberg.