DOOM: MarillionFan

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Paddy replied

4 June 2022, 12:58
Surely it needs a better algorithm and software to query out of the ordinary transactions.
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AtW started a topic DOOM: MarillionFan

3 June 2022, 20:16
DOOM: MarillionFan

"Flash crash set off by ‘fat-fingered’ Citigroup trader could cost $50m

Details emerge after London-based employee incorrectly added a zero to a transaction

A “fat-finger error” by a London-based trader at Citigroup that triggered a flash crash across European stock markets could cost the bank at least $50m (£39.8m).

The trader was working from home last month when they incorrectly added an extra zero to a trade, Bloomberg reported, quoting “people familiar with the matter”.

That split-second mistake, on the 2 May bank holiday, wreaked havoc on markets across Europe, triggering a sell-off that reportedly wiped out as much as €300bn (£256bn) at one point.

Trading was briefly suspended in several markets that morning after leading share indices recorded sudden steep declines.

One of the hardest hit was Sweden’s benchmark OMX Stockholm 30 index, which fell by nearly 8% but later recouped most of the losses and ended the day 1.9% lower."

https://www.theguardian.com/business...could-cost-50m
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