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In order to have legal certainty and in order to avoid the situation that courts have to decide ex-post if a trade should be binding or not, erroneous trade rules of exchanges usually exclude civil-law rescission rights.
By May 7, 2018, Samsung Securities stated that it would file criminal lawsuits against employees who sold their shares during the fat finger incident. [3] On May 28, 2018, government prosecutors raided the Samsung offices.
Three years ago, as the long-struggling Citigroup was in a tailspin over a billion-dollar fat-finger error, the bank announced its next CEO, Jane Fraser. Jane Fraser is trying to pull chronically ...
It’s officially one of the costliest typos ever: U.K. financial regulators just fined Citigroup Global Markets Ltd. (CGML) $79 million for a “fat-finger” trade one of its employees placed by ...
Editor’s note: The article and headline have been updated with the correct figures for Storebrand’s market cap. Storebrand, a leading Norwegian financial services group worth more than $3 ...
This type of event occurred on May 6, 2010 in the United States. A $4.1 billion trade on the New York Stock Exchange (NYSE) resulted in a loss to the Dow Jones Industrial Average of over 1,000 points and then a rise to approximately previous value, all over about fifteen minutes.
The fat-finger theory: In 2010 immediately after the plunge, several reports indicated that the event may have been triggered by a fat-finger trade, an inadvertent large "sell order" for Procter & Gamble stock, inciting massive algorithmic trading orders to dump the stock; however, this theory was quickly disproved after it was determined that ...
Post Malone has a little message for the hole that took him out during his concert over the weekend. In a new picture, posted on his Instagram, the 28-year-old rapper was photographed flipping off ...