
Tokyo Stock Exchange outage throws structured notes into tailspin
Trading shutdown on October 1 disrupted observation dates for some structured products

The trading outage at Tokyo Stock Exchange at the start of October caused widespread confusion in Asia’s structured products markets, with trading desks initially scrambling to make sense of the pricing implications.
“The suspension of trading created havoc on Japan equity-linked structured notes because, until noon, it was unclear whether the exchange would resume or not,” says a cross-asset structuring head at a European bank in Tokyo. “There was also a large amount of confusion on the client
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