Tokyo Stock Exchange Inc. on Thursday unveiled new rules for swiftly restarting trading in the event of a suspension, as the lack of such guidelines puzzled many investors during an unprecedented all-day system outage last year.
According to the rules to be put in place next month, the Tokyo bourse operator will resume trading after a system problem even if not all market participants are reconnected to its trading system provided certain levels of trade volumes are secured with brokerages able to restart among about 90 securities houses linked with the system.
The rules compiled by a TSE panel of outside directors and market professionals will be implemented on April 26, after the Financial Services Agency issued a business improvement order in the wake of a system failure on Oct. 1 that caused the worst outage at the world's third-largest bourse, which has about 3,700 companies listed.