Glitch at TSE No Payday for Japan’s Alternative Trading Venues
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Japan’s alternative trading platforms missed out on a potential payday as regulators stopped them from fielding orders when a computer error caused the biggest trading disruption in six years yesterday at the Tokyo Stock Exchange.
The glitch at TSE disabled trading of 241 companies including Sony Corp. for 2 1/2 hours. Japan’s biggest bourse hasn’t yet been able to measure the impact on trading, Chief Information Officer Yoshinori Suzuki said yesterday in Tokyo. The Japan Securities Dealers Association shut trading on alternative platforms SBI Japannext and Chi-X Japan on concern shares couldn’t be priced fairly without the main bourse, said spokesman Atsushi Sakiyama.