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Japanese Exchanges Cite Heavy Volume for Delays

From Associated Press

Japan’s two stock exchanges reported delays in transactions Thursday due to a heavy volume of orders.

The Jasdaq Securities Exchange in Tokyo said on its website that the high volume of orders for correction and cancellation for most of its 956 issues required more time than usual to process.

Jasdaq trades mainly issues in the information-technology and service industries.

According to a Kyodo News Agency report, the high volume of orders produced a glitch in the order processing system that resulted in delays of as long as eight minutes.

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Exchange spokesman Kensuke Morimoto denied the report, citing the heavy concentration of orders placed in real time as causing the delays.

He added that the delays were no longer than one or two minutes.

Trading on the exchange resumed normally for the afternoon session, Morimoto said.

On the Osaka Stock Exchange on Thursday morning, trading was delayed because of the volume of orders for a single issue on its smaller Hercules market for start-up companies, said exchange spokesman Hiroshi Ishii.

A heavy volume of orders for Sunrise Technology Corp., a telecommunication stock, slowed down the notification of transactions to customers, Ishii said.

But there was no trouble with the exchange’s computer system, he said.

A total of 125 issues are listed on the Hercules market, which opened in 2002, he said.


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