Time for an IT-Revenge Clause?
BEFORE THE SPIN
The perils of the Tokyo Stock Exchange (TSE) have only gotten worse since the "fat fingers" trade fiasco with Mizuho Securities exposed a major flaw in a key TSE transaction system (see page 9). While this flaw has been fixed, Mizuho still sent a $350 million bill to the TSE. This rare demand for compensation has effectively put a price tag on the value of IT—albeit a negative one.
But is there a very serious lesson here? Is Mizuho on to something?
Historically, it's been nearly impossible to
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