What happened to the Tokyo Stock Exchange?
Stop trading for a whole day on the Tokyo Stock Exchange. Here because
A forced vacation day for the Tokyo Stock Exchange. On October 1, 2020, the third largest stock exchange in the world, after New York and Shanghai, came to a halt due to a technical failure.
At the moment it does not appear that this failure can be linked to a cyber attack. Let's go step by step.
THE TOKYO BAG
The stock exchange has an estimated market capitalization of $ 5.1 trillion, including listings on exchanges outside Tokyo. After New York and Shanghai, it is the largest stock exchange in the world.
TOTAL CONTRACTS
On the day of October 1, an "unprecedented" failure, as defined by the Japan Exchange Group (Jpx), the operator of the Tokyo stock market, stopped trading on the Tokyo Stock Exchange for the whole day. It is the first time since 1999, the year of systematization of trading.
The Japan Exchange Group initially halved trading, only at noon did it decide to stop them. The problem affected the Nikkei 225 and Topix indices, but also the regional exchanges of Nagoya, Sapporo and Fukuoka.
DISCOMFORT FOR INVESTORS
"After discussions with market participants, we have decided to stop trading for the whole day," said Tokyo Stock Exchange President Koichiro Miyahara. "We have caused great inconvenience to many market participants and investors … We sincerely apologize," he added, explaining that the repair of the system required a reboot that "would have created confusion among investors and market participants".
WHAT HAPPENED TO THE TOKYO STOCK EXCHANGE
But what happened to the business pizza? A memory failure that prevented a successful switch to a backup system would have stopped trading.
THIS IS NOT A COMPUTER ATTACK
It is not, at least from the evidence, a cyber attack.
"We have no information at hand to suggest it," assured TSE spokesperson Hiroyuki Takahashi .
THE RESUMPTION OF ACTIVITIES
The defective hardware has been replaced and the Exchange is expected to return to normal operation on October 2nd.
"We are preparing to reopen the market tomorrow," said Miyahara, who did not rule out last-minute changes and setbacks.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/cosa-e-successo-alla-borsa-di-tokyo/ on Thu, 01 Oct 2020 16:43:44 +0000.