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There is equally exciting news coming from Japan, while the entire world emotionally debates on America's future. Today, the Tokyo Stock Exchange was shut down for a day due to a system failure.
According to the Kyodo agency, the Nikkei index, which reflects the stock quotes of more than 200 leading organizations in Japan, as well as the Topix index, which represents the stock prices of companies in the first section, could not correctly show the stock prices. It can be recalled that shares of 3,700 companies are represented in both sections of the Tokyo Stock Exchange.
It should be noted that the legendary restraint and calmness of the Japanese did not let them down even in such a stressful situation. As soon as the work of the Tokyo Stock Exchange stopped, its president, Koichiro Miyahara, addressed the public with a brief statement. He said that they intend to replace the failed devices and are preparing so that operations can resume tomorrow.
The president also apologized for the suspension of trading for the whole day and explained that if work will be resumed earlier, it could lead to a confusion in the market.
At the same time, technical specialists at the Tokyo Stock Exchange gave the most detailed explanation of what happened and said that the failure was due to the Arrowhead trading system. The possibility that a cyberattack caused the technical problems was rejected even at the initial stages of identifying the causes of the failure.
Despite such calmness on the part of the exchange's representatives, I would like to outline the real scale of the tragedy. First, this is the biggest system failure since 1999, when the Tokyo stock exchange switched completely to electronic trading. Secondly, due to a halt in trading in Tokyo, the exchanges in Nagoya, Sapporo and Fukuoka were also forced to suspend trading. Only the exchange in Osaka was not affected by Tokyo's technical issues and continued to operate normally, since the basis of its transactions is futures trading.
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