Create an Account
username: password:
 
  MemeStreams Logo

Bad keystroke leads to $251 million stock buy

search

IconoclasT
My Blog
My Profile
My Audience
My Sources
Send Me a Message

sponsored links

IconoclasT's topics
Arts
  Horror
Business
  Tech Industry
Games
Health and Wellness
Home and Garden
  Repair and Improvement
Miscellaneous
  Humor
Current Events
Recreation
  Motorcycles
Local Information
Science
Society
Sports
Technology
  High Tech Developments

support us

Get MemeStreams Stuff!


 
Bad keystroke leads to $251 million stock buy
Topic: Miscellaneous 8:32 am EDT, Jul  5, 2005

Oops!

A Taiwan stock trader mistakenly bought $251 million worth of shares with a misstroke of her computer keyboard, 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 miskeyed in a small order from Merrill Lynch on Monday, creating confusion when many small companies inexplicably surged past the 7 percent trading limit.

"Something like this is difficult to explain to superiors," a Fubon executive said Tuesday.

Fubon said that the trader was unfamiliar with new computer systems and will be fired. The company will also examine its procedures of placing orders, it said

Bad keystroke leads to $251 million stock buy



 
 
Powered By Industrial Memetics
RSS2.0