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Old 06-30-2005, 10:28 PM
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Oops! Trader mistakenly spends $251 million

A Taiwan stock trader mistakenly bought $251 million worth of shares with a mis-stroke of her computer, meaning her company is looking at a paper loss of more than $12 million and she is looking for a new job.

The trader with Fubon Securities made a typo while filling in a small order from Merrill Lynch on Monday, creating confusion when many small firms inexplicably surged past the 7 percent trading limit.

“Something like this is difficult to explain to superiors,” a Fubon executive said on Tuesday.

http://www.msnbc.msn.com/id/8382753/

This gal would have gone to jail in the US.
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Last edited by Ricardo; 06-30-2005 at 11:54 PM.
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Old 07-01-2005, 02:03 AM
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The company definitely has poor control on how transactions are done. How can just a click lead to such a loss..Cant they have contraints? I dont think it can happen in the States.
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