Japanese Derivatives Halted After Osaka System Crashes

By Anna Kitanaka, Toshiro Hasegawa, and Kana Nishizawa
Published March 4, 2013 Bloomberg

Nikkei 225 Stock Average futures volume plunged more than 90 percent today as a software error forced a halt to Osaka trading of some derivatives, the first outage for Nasdaq OMX Group Inc. (NDAQ) technology installed in 2011.

Trading of Nikkei 225 options and futures in Japan resumed at 2:10 p.m. The failure began at 10:20 a.m. when a program processing index options stopped responding, Osaka Securities Exchange Co. Managing Director Yoshinori Karino said at a press briefing.

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