Published On: Sat, Mar 9th, 2013

Osaka Securities Exchange Suffers Disruption

Michio Yoneda  President & CEO OSE

Michio Yoneda President & CEO OSE

The Osaka Securities Exchange (OSE) suffered system failure on Monday March 4, forcing the share market to suspend trading for about four hours, according to a notice to members posted by the exchange.

The system failure occurred at around 10:30 a.m. local time, one and a half hours after the market opened on Monday, and trading in Nikkei futures, options and some derivative products was suspended due to the failure by 11:30 a.m., said the spokesperson at the exchange.

He added that the interruption lasted until 2:10 p.m., and the exchange suffered its biggest disruption in two years, after it successfully launched its new derivatives trading system, “J-GATE” which is compliant with international standards.

“We are checking details now and our technical team will continue to investigate the direct cause of the system failure,” the spokesman said.

Source: Xinhua

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