Japan Tokyo stock exchange to launch high-speed trading system

The Tokyo Stock Exchange will launch a new high-speed trading system Monday, scrapping an antiquated, glitch-prone platform for one that aims to compete with major global rivals. The world's second-largest bourse after the New York Stock Exchange spent the weekend running final tests of its 'Arrowhead' system, which can process trades in five milliseconds. That is 600 times faster than the two to three-seconds required until now, and roughly on par with its counterparts in New York and London. Monday marks the first trading day of 2010.