The Tokyo Stock Exchange (TSE) has delayed its trading system upgrade until 4 January 2010. The exchange said it has done this to ensure market participants have an adequate testing period on the new platform.
The implementation of arrowhead, the TSE’s next-generation trading system, was originally planned for the second half of 2009. According to a TSE statement, postponing the launch will allow a six-month period for interface tests, which will begin in May 2009, and enable the exchange and its participants to take advantage of four straight days of holidays at the year-end and new-year to conduct final system transition and confirmation tests.
TSE said arrowhead will give its clients response times of 10 milliseconds or less, and increased reliability. Trading information such as orders, executions and order books will be protected with synchronised, three-node data back-up memory. Cash equity products will also be traded by auction once the upgrade is complete.