Suspension of trading by the Tokyo Stock Exchange prompts the resignation of its CEO

Suspension of trading by the Tokyo Stock Exchange prompts the resignation of its CEO Exchange operator Japan Exchange Group Inc. reported today that Tokyo Stock Exchange Chief Executive Officer Koichiro Miyahara has resigned, taking responsibility for a systemic failure that occurred in October. Miyahara will also step down from other senior positions, the operator said..

Tokyo Stock Exchange suspends trading of all shares during the session on October 1 due to problems with its system.

The Japan Exchange Group attributed the suspension of trading to a hardware failure related to the transmission of quotation data, and reported that the switch to standby equipment was not carried out properly, as a result of which the exchange could not continue to function.

This is the first time trading has been suspended for a full day since the exchange switched to a fully automated trading system in 1999..