To develop rules for resuming transactions in the event of a TSE system trouble
To prevent the recurrence of the situation where stock trading is suspended all day due to system trouble, the Tokyo Stock Exchange plans to develop new rules within this fiscal year to promptly resume trading.
However, the contents of the system differ depending on the securities company, and the focus is on whether market participants can reach a conclusion in a convincing manner.
In the system trouble on the 1st of this month, it was possible to resume trading by manually restarting the system, but there was a risk that the data of the order received in advance from the securities company would be canceled and confusion would occur, so Tokyo Stock Exchange Trading The stock exchange has decided to suspend trading all day.
On this issue, TSE held a press conference again on the 19th, and revealed that the lack of specific rules for resuming trading led to a full-day suspension of trading.
For this reason, TSE plans to establish a council formed by securities companies in the near future and to develop new rules within this fiscal year to promptly resume transactions.
However, when canceling an order received from a securities company in advance like this time, it seems that there are many securities companies that are difficult to handle on the system.
Another issue is how securities companies can confirm with each customer their intentions such as reordering or canceling orders.
For this reason, it has been pointed out that the development of new rules may impose a burden on securities companies, and the focus will be on whether market participants can reach conclusions in a convincing manner.