TSE unveils plans for new platform

The Tokyo Stock Exchange (TSE) has unveiled plans to develop a next-generation computer system in the next two or three years. The move comes less than a month after the exchange’s trading system rejected trade cancellation requests by a Mizuho Securities broker. At the time, the trading error resulted in $330 million of losses for the broker.

A spokesperson for the exchange said the rapid increase in the number of trading orders was placing a strain on the current system architecture. “We would like…[a] more robust, flexible, scalable and speedy new system,” the spokesperson added.

TSE chairman and president, Taizo Nishimuro, told local media the new platform would have better backup features and higher trade execution speed.

The TSE has an ongoing study of its IT infrastructure, dubbed, ‘the IT master plan’, which it revisits every year. The exchange spokesperson said the current IT master plan will be revised and the budget will also be updated accordingly.

But the spokesperson said more details about the next-generation computer system would only be available after a chief information officer is hired. The exchange is in the process of recruiting a chief investment officer.