Bond trader accidentally places $31bln Capcom order
A UBS trader's infatuation with the zero key almost led to a $31 billion order -- allegedly the largest in Tokyo Stock Exchange history -- for convertible bonds in Capcom. Reuters reports that, thankfully, the error was caught before any real financial harm occurred. The trader only meant to place an order for $306k.
The incident did raise some concerns about Japan's "lax approach to systems and compliance," especially since UBS was recently involved in two of the country's most famous trading blunders. Come on, regulatory guys. We're sure the trader could've just loaded a previous save file if things actually went bad. That's the way things work, no?
[Via Capcom Unity]
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