Misconfiguration of a backup device led to the all-day outage at the Tokyo Stock Exchange last week, the TSE announced Monday.
Operations were supposed to switch to a backup device automatically in the event of a failure of a memory module that stores trading data in the system, but the switch had not been configured correctly. The TSE has changed the setting.
In an effort to prevent a recurrence of the system failure, TSE operator Japan Exchange Group Inc. (JPX) on Monday established a committee comprised of independent outside directors to investigate the glitch.
According to the TSE, the latest system failure was caused by a problem with a shared disk device that stores basic information such as user data in the bourse's Arrowhead trading system.
According to JPX, the system had not been configured to switch to the backup device if a memory module was corrupted. The company has changed the setting, and the device is now able to automatically switch to the backup even in the event of memory failure.
The TSE's IT Development Director Yasuhiko Tamura admitted during a press conference that testing based on the same scenario had not been conducted. "Testing based on a memory failure was difficult," he said.
Although Fujitsu Ltd. is in charge of the development and configuration of the Arrowhead system, TSE Executive Officer Hiroki Kawai said: "As the market operator, the TSE has the primary responsibility for causing the situation. We want to understand the root cause of the problem and discuss what could have been done."
JPX's four-member investigative committee includes attorney Hideaki Kubori, who chairs the committee, and NEC Corp. Chairman Nobuhiro Endo. JPX said it would release the results of the investigation as soon as they are finalized.
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