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Oops! Trader mistakenly spends $251 million
Taiwan stock trader looking for a new job after accidental share purchases



TAIPEI, Taiwan - A Taiwan stock trader mistakenly bought $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 made a typo while filling in a small order from Merrill Lynch on Monday, creating confusion when many small firms inexplicably surged past the 7 percent trading limit.

“Something like this is difficult to explain to superiors,” a Fubon executive said on Tuesday.
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Fubon said that the trader was unfamiliar with new computer systems and would be fired.

“There is a paper loss of more than T$400 million,” said the executive.

“However, with a good outlook for stocks in the second half, there are no plans to sell the shares in the near term.”
Copyright 2005 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters.

I wonder if that's an Oops or a Whoops?

"Retreat, hell! We just got here!"-Captain Lloyd Williams, 2nd Marine Division, Belleau Wood, France, WWI

Left Mouse Click...

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"I can just punch holes in paper for sooo long before I want to see something blow up/fall down "
- Boomer 5th May 2005

Aww Man, can you imagine 1 wrong key hit and your company is out that much money.......I couldn't do that job i type to fast for my own good but hit all kinds of wrong keys in the process!

Bet i would be fired in a less then a week <img src=icon_smile_wink.gif border=0 align=middle>

" When everything's coming your way, you're in the wrong lane!"

_________________
\"I dream of a better tomorrow, where chickens can cross the road and not be questioned about their motives\"

i dount i would even survive the day...

"Retreat, hell! We just got here!"-Captain Lloyd Williams, 2nd Marine Division, Belleau Wood, France, WWI

could you imagin what you could do if your boss pisses you off.

<BLOCKQUOTE id=quote><font size=1 face="Verdana, Arial, Helvetica" id=quote>quote:<hr height=1 noshade id=quote>

The trader with Fubon Securities made a typo while filling in a small order from Merrill Lynch on Monday
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Arial, Helvetica" size=2 id=quote>

Change the name to FUBAR Securities........

<BLOCKQUOTE id=quote><font size=1 face="Verdana, Arial, Helvetica" id=quote>quote:<hr height=1 noshade id=quote>“However, with a good outlook for stocks in the second half, there are no plans to sell the shares in the near term.” <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Arial, Helvetica" size=2 id=quote>

I'm surprised no one noticed this before...

"Retreat, hell! We just got here!"-Captain Lloyd Williams, 2nd Marine Division, Belleau Wood, France, WWI

they dont want to take the tax and fees penalties short term lol, forget the outlook they are worried about this growing into a great fuck up. As long as they are near even short term no one is gonna rock this boat. Now if she bought 251 million in Enrons cousin well it will get interesting.

I wonder if you the trading firm is liable for this order?

More importantly, will she get a commission if this ends up doing extremely well? She did end up getting punished for f*&^ing up...

"Retreat, hell! We just got here!"-Captain Lloyd Williams, 2nd Marine Division, Belleau Wood, France, WWI