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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.
"Fat finger" typing (especially in the financial sector) is a slang term referring to an unwanted secondary action when typing. When a finger is bigger than the touch zone, with touchscreens or keyboards , there can be inaccuracy and one may hit two keys in a single keystroke.
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 ...
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 ...
Google shares melted down the other day after the company's filing agent, R.R. Donnelley, prematurely filed Google's unusually weak earnings a little earlier than anticipated. However, the market ...
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.
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