Following two failures on its trading system earlier this year, the Tokyo Stock Exchange (TSE) suffered a third system error this week that left market participants unable to trade Japanese derivatives or bonds for four hours. Trading was suspended on the 22 July between 9.21am until 1.45pm local time.

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The Singapore Exchange Limited (SGX) has today migrated its securities market to a new trading system, Nasdaq OMX’s Quest-ST.

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Trading on the Bursa Malaysia Securities Berhad equities market was suspended for the whole day yesterday as a result of “a multi hardware failure” in its core trading system.

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The Tokyo Stock Exchange (TSE) has released details of its plans to replace its trading system by the second half of next year. The upgrade is part of the exchange’s €212.3 million investment in its technology infrastructure, which it launched in 2005.

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Nyse Euronext and the Philippine Stock Exchange (PSE) have signed a memorandum of understanding to discuss areas of possible future cooperation regarding the sharing of information and experience on new stock markets products and services. The agreement also covers the PSE’s intention to purchase new trading system technology from NYSE Euronext and its affiliates.

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Nasdaq OMX has signed an agreement to supply the technology infrastructure for the Hong Kong Mercantile Exchange (HKMEx), a new commodities exchange that is due to launch in the first quarter of next year.

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Following the upgrade of its trading system last year, New Zealand’s stock exchange NZX has revealed plans to expand into stock index and stock futures during 2008. Stuart Turner, head of strategy and delivery at NZX, reckons the time is right for the exchange to look to new instruments.

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FFastFill has acquired Exchange Technologies, an Australian company specialising in the provision of middle office software in the APAC region with 16 customers including 12 global banks – three of whom are new customers for FFastFill – to support the Group’s Asia Pacific and middle office strategy.

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J-Oil Exchange (JOX) has deployed Trayport’s GlobalVision Exchange Trading System, enabling existing and new members to integrate with the exchange. The implementation maintains JOX’s existing bilateral settlement mechanism and provides the ability to support cleared products across multiple asset classes on a single server application throughout Asia.

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A massive number of basket orders, and the subsequent competition for resources at the opening of trading on March 10, has been indentified by the Tokyo Stock Exchange (TSE) as the root cause for the suspension of trading in Alps Electric and Nagoya Railroad – the second major system failure at the exchange in as many months (AsiaMarketsIT.com, March 12 2008) – concludes a report compiled by the exchange at the behest of the FSA.

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Korea Exchange (KRX) is set to expand its tech-heavy secondary market, Kosdaq (Korean Securities Dealers Association’s Automated Quotations), pledged Lee Jung-hwan as he was sworn in as the bourse’s chief executive for a second term.

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Bursa Malaysia Derivatives Berhad suspended trading for more than an hour on the morning of March 25 for all products except FCPO and FPKO, as market data dissemination failed following a weekend of testing and maintenance.

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The Stock Exchange of Thailand’s (SET’s) Bond Electronic Exchange (BEX) has signed a memorandum of understanding (MOU) with Taiwan’s secondary bond market - Gretai Securities Market - covering information exchange, system development, research and training. The two are also discussing the establishment of a bond research institute in Bangkok.

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Tokyo Grain Exchange (TGE) is to use MarketAxess-owned Greenline Financial Technologies’ (GFT’s) FIX testing and simulation platform, VeriFIX, for its new FIX-based auction trading system, following a deal with MetaBit, GFT’s reseller in Japan.

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The Tokyo Stock Exchange has been hit by a second computing malfunction in the space of two months, with a system problem forcing the suspension of trading in electronic component maker Alps Electric and rail firm Nagoya Railroad, reports Dow Jones Newswires. The cause of the error is still not known, said a spokesperson for the exchange.

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Bursa Malaysia has introduced an electronic trading platform (ETP) for the Malaysian bond market, which it hopes will boost transparency and liquidity, as well as increasing efficiency, and help to put Bursa Malaysia at the forefront of electronic bond trading in the region.

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Trading on Bursa Malaysia Securities Berhad and on FKLI, OKLI and SSF derivatives products on Bursa Malaysia Derivatives Berhad was halted March 10 at 2:58pm local by a market integrity circuit breaker, designed to maintain market stability.

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Singapore Exchange (SGX) is inviting public comment on proposed rule amendments to introduce a Pre-Settlement Matching Service (PSMS), which will automate the matching of settlement instructions of trades among Clearing Members and Depository Agents (DAs).

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Singapore Exchange Limited (SGX) has launched an upgrade to its market data system SGX DerivativesQuote, powered by OMX’s next generation distribution system for market data, Genium Market Info.

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Taking advantage of the rapid deregulation of utilities in the sub-continent, India’s first energy exchange, the Indian Energy Exchange (IEX), is on target for a Q2 launch, says its owner the Multi Commodity Exchange of India.

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