Technology is key in ensuring the trust and confidence of a stock exchange, a research group said Wednesday.
In its analysis of the recent information-technology problems at the Tokyo Stock Exchange, an analyst at Financial Insight's Asia-Pacific IT benchmarking advisory service pointed out that the bourse needed to be vigilant about continuously update its system.
"The technology disruptions at the TSE have brought the technical reliability of all exchanges into the limelight. The trust the public provides to electronic exchanges is based on the strength and durability of their electronic systems," said Abhishek Kumar. He added that "it is necessary for exchanges to realize that maintaining their electronic systems is a continuous process of making upgrades and improvements and not just a matter of keeping the status quo."
As the world's second-largest bourse, the Tokyo exchange deals with one of the highest volumes of trading worldwide, having implemented an all-electronic trading system in 1999. However, there were three major technology-related problems between last November and January this year.
Copyright 2006 by United Press International
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