The chairman of the Tokyo Stock Exchange today vowed that he would not pay compensation to a member which has threatened the exchange with a ¥40.4bn (€271m) lawsuit over a mis-keyed trade last year.

Taizo Nishimuro told a press conference in Tokyo the TSE was partly responsible for the broker's loss, which resulted from a trade being keyed incorrectly, but denied that the exchange was liable, Bloomberg reports.