A trader at Mizuho Securities tried to sell 610,000 shares of a legitimate stock at ¥1 (less than a penny) each. The trader intended to enter an order for 1 share at ¥610,000. What's more, the number of shares in the order was 41 times the number of the company's outstanding shares. The Tokyo Stock Exchange duly processed the order and chaos ensued. By the end of the day, Mizuho Securities had lost at least ¥27 billion (about $225 million)…
[From FierceFinance]
how can this still happen one wonders...
Posted by: Rodrigo A. SEPÚLVEDA SCHULZ | December 12, 2005 at 10:43 PM