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  • Somebody's sure to notice this... (trader's keystroke error mistakenly buys stock, costs firm $12mm)

    06/29/2005 10:53:53 AM PDT · by presidio9 · 93 replies · 2,030+ views
    Reuters ^ | Tue Jun 28
    A Taiwan stock trader mistakenly bought T$7.9 billion ($251 million) worth of shares with a mis-stroke of her computer, meaning her company is looking at a paper loss of more than $12 million and she is looking for a new job. The trader with Fubon Securities mis-keyed in a small order from Merrill Lynch Monday, creating confusion when many small firms inexplicably surged the 7 percent trading limit. "Something like this is difficult to explain to superiors," a Fubon executive said Tuesday. Fubon said that the trader was unfamiliar with new computer systems and would be fired. "There is a...