The Tokyo Stock Exchange, whose technology was blamed when a broker mistakenly lost $344m (€272m) two-and-a-half years ago, will replace the system by the second half of next year in a move it says will make it more competitive with international rivals.

The 2009 delivery will be the culmination of a ¥3bn (€212.3m) IT upgrade launched by the exchange two-and-a-half years ago following a trading error in 2005 when Japanese broker Mizuho Securities blamed the exchange’s systems for the trading loss, causing the resignation of the exchange's president. A month before that incident, computer troubles shut the TSE for almost an entire day.