Exchange head to resign

Tokyo Stock Exchange president Takuo Tsurushima will resign as early as tomorrow over system faults that have raised worries about the dependability of transactions at Asia's largest bourse, Japanese media reports say.

Earlier this month the exchange acknowledged that the system's failure to cancel a huge errant trading order by Mizuho Securities had contributed to losses. A typing error cost Mizuho at least 27 billion yen ($325 million).