Blame spreads over Mizuho trading error
The Tokyo Stock Exchange today admitted that a fault in its own systems led to the mistaken stock trade on December 8 that has so far cost Mizuho some $225 million.
The TSE has now admitted that its systems suffered an "irregularity" while processing the erroneous order, which meant that Mizuho's attempts to cancel the order were ignored. Mizuho has since been settling the erroneous trades in cash, which has cost over $200 million.
TSE president Takuo Tsurushima said yesterday that he was considering resigning over the issue. The TSE is also investigating the problem with Fujitsu, the systems manufacturer.
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