Tokyo Stock Exchange (TSE) president Takuo Tsurushima resigned Tuesday to take responsibility for a recent system problem which raised concerns over the reliability of transactions in the bourse.

TSE chairman Taizo Nishimuro will double as president for the time being. According to Kyodo News, two related managing directors also quit owing to the incident.

The decision was made "to clarify the management's responsibility," Tsurushima said to reporters, "The Tokyo Stock Exchange will try to do its best to gain the trust of the market."

On Dec. 8, a trader of Mizuho Securities mistakenly typed a sell order for 610,000 J-Com shares for 1 yen each, rather than the intended one J-Com share for 610,000 yen, Which brought the firm a loss of some 40 billion yen (about 344 million US dollars).

The TSE later acknowledged its system's failure to cancel the errant order, which brought a credibility questions to the largest bourse in Asia.

Source: Xinhua