Mizuho demands $350m from TSE

News

Mizuho Securities is demanding Yen40.4 billion ($347 million) from the Tokyo Stock Exchange (TSE) to compensate it for a trading error that it was unable to cancel on time.

A deadline of September 15 had been set for the exchange to respond. However, Taizo Nishimuro, president of the TSE, said the exchange has no intention of paying the charge.

Mizuho and the TSE have been negotiating since December, when a sell order was completed for 610,000 shares in a local recruitment firm at Yen1 each. M

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