Wrong key stroke costs trader £135m

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.