(Adds statement from Toshiba in 6th and 7th paragraphs)
By Stanley White and Daiki Iga
TOKYO, Oct 19 (Reuters) - The Tokyo Stock Exchange said on
Monday it will draw up new rules by next March on how to restart
trading following a system failure, after the bourse was
paralysed for an entire day earlier this month.
The exchange also said in a statement it will set up a
committee with investors, members from investment banks, IT
vendors, and a representative from Japan's financial regulator
to draft the new guidelines.
On Oct. 1, trading was halted due to a hardware failure in
the worst-ever outage for the world's third-largest equity
market.
The trading halt tarnished the exchange's credibility just
as new prime minister Yoshihide Suga has prioritised
digitalisation, and could dent Tokyo's hopes of luring more
financial services companies to Japan's capital.
The exchange previously said the glitch was the result of a
hardware problem and a subsequent failure to switch to a
back-up. It caused the first full-day suspension since the
exchange switched to all-electronic trading in 1999.
Japan's Fujitsu Ltd, which developed the trading
system, said in a separate statement on Monday the backup failed
due to a software update and an outdated user manual for a
memory storage system.
The company also vowed to improve its network testing and
create a new committee reporting directly to the president that
is responsible for quality control.
(Reporting by Stanley White, Daiki Iga, and Nobuhiro Kubo
Editing by Tomasz Janowski and Bernadette Baum)