Wrong key stroke costs trader £135m
A click too far: trader urders £135m-worth of stock by mistake Antony Savvas A stock trader in Taiwan mistakenly bought $251m (£135m) worth of shares last week after failing to get to grips with new computer systems.
A stock trader in Taiwan mistakenly bought $251m (£135m) worth of shares last week after failing to get to grips with new computer systems.
The trader has lost her job after the miss-keyed order led to her employer – Fubon Securities – losing $12m on paper from the transaction.
She was processing a small order on behalf of Merrill Lynch & Co, but Fubon will absorb the loss.
Fubon said the trader was unfamiliar with new computer ordering systems, although it intends to take a closer look at the share dealing systems it has in place.
Fubon said it will hang onto the unwanted stock in the hope that it will go up in value.