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Last updated: January 19, 2006 4:07 pm

Ill-wind blows good for Fujitsu

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Fujitsu, which manufactured part of the Tokyo Stock Exchange’s (TSE) trading system hardware, enjoyed a nearly 4 per cent rise in its share price on Thursday on optimism that it would benefit from increased demand for higher-speed communications systems.

The TSE’s series of problems have raised questions about the reliability of the trading system hardware and whether or not the collapse of trading could be blamed on poor technology.

However, TSE and Fujitsu officials say the exchange’s recent problems are not directly attributed to Fujitsu’s hardware, and the computer and telecoms equipment group has emerged unscathed by the market’s latest turmoil.

“This is not a problem of the system vendor,” TSE said.

Fujitsu said on Thursday: “We have not heard that there is anything wrong [with the part of the trading system that it supplied].”

According to the exchange, the TSE’s collapse was the result of a lack of capacity to deal with unprecedented volumes. “The capacity that was set could not deal with this irregular trading volume so the vendor is not to blame,” it said.

The TSE is also investigating with Fujitsu the causes behind a system glitch, which prevented Mizuho Securities from cancelling an order made in error in December. The botched trade cost Mizuho Securities Y40bn.

The exchange is to report the findings of an internal investigation into the causes of the glitch by the end of this month.

 

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