TSE president resigns over Mizuho fiasco
Tokyo Stock Exchange president Takuo Tsurushima and two other executives have resigned in response to the Mizuho trading error 12 days ago.
As well as Tsurushima, exchange chief financial officer Sadao Yoshino and managing director Tomio Amano have also stepped down. Other executives have taken pay cuts.
Tsurushima had already taken a pay cut for a computer error in October that shut down the exchange for a full day.
Settling the mistaken trades for cash could cost Ұ40 billion ($343 million), Mizuho said earlier this month. While some investment banks that profited from the transaction have agreed they may repay the money, the details have still to be resolved.
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