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Tokyo Stock Exchange faults bad system setting for outage

Bourse pledges to rewrite contingency plans with input from brokerages

An electronic stock ticker display at the Tokyo Stock Exchange went dark during the trading shutdown on Oct. 1. (Photo by Kei Higuchi)

TOKYO -- All it took was one bad setting to prevent auto-backup equipment from kicking in when a critical device failed, sparking a systemwide shutdown that halted a full-day of trading on the Tokyo Stock Exchange earlier this month, according to a report submitted Friday.

The bourse and its parent company, Japan Exchange Group, were ordered by Financial Services Agency to submit the report on the causes of the Oct. 1 blackout along with steps to prevent it from recurring, including working with securities companies to develop clearer contingency plans.

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