Equity round-up: Oops, I did it again

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By:
Peter Koh
Published on:

The Tokyo Stock Exchange found that a malfunction in its new and trouble-prone trading system prevented Mizuho Securities from being able to cancel the mistaken J-Com order.

Additionally, the order, for 40 times more J-Com shares than actually exist, should have automatically been cancelled by the exchange. Mizuho is now threatening to sue the Tokyo Stock Exchange and the exchange’s plans for an IPO are in jeopardy. The fault is the second serious failing of the Tokyo bourse’s new trading system in as many months. In November, another glitch in the same new computer system caused the first shutdown in the Tokyo exchange’s 56-year history.

TSE sued over Mizuho keystroke blunder
Losses from Trader error should have been reversible, securities house claims
Euromoney October 2006

Hostile bid subverts Japanese politeness

Oji Paper/Hokuetsu: blue-chip hostile takeover bid
Euromoney September 2006

Japan: A bridge too far?

Softbank/Vodafone: leveraged buyout
Euromoney May 2006

M&A advice: Consultancies are ready for big-ticket deals
Toshiba/ Westinghouse: Japanese company making transformational acquisitions overseas
Euromoney March 2006

Trading blunders: This month, the Tokyo Stock Exchange
Daiwa Mizuho and Nikko Citigroup's TSE trading blunders
Euromoney February 2006

Japan: Crisis? Which crisis?
The exchange's shutdown indicates the possiblity of big problems
Euromoney February 2006