Tokyo Stock Exchange CEO to resign over Oct system failure

© Reuters. TSE CEO and President Miyahara holds a news conference in Tokyo

TOKYO (Reuters) – Tokyo Stock Exchange President and Chief Executive Officer Koichiro Miyahara has decided to resign over a system failure that caused an unprecedented all-day suspension on the bourse last month, the business daily reported on Monday.

Akira Kiyota, CEO of Japan Exchange Group (JPX), which operates the Tokyo Stock Exchange, will stay on and also serve as president of the Tokyo bourse, the Nikkei said.

JPX declined to comment. Kiyota is due to hold a news conference at 3:30 p.m. (0630 GMT) following a briefing by the Financial Services Agency, which is widely expected to issue a business improvement order after the system failure.

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