fat fingers

  • Don't you wish there were more like haggard unshaven pictures of him?


    Banks In Trouble For Losing Money And Getting In Trouble

    Half of today’s financial news stories are about how some government enforcement agency is looking into something you already knew about. This is very boring for me! Remember when Goldman lost a bunch of money by fat-fingering some options trades?1 That still happened. Remember how JPMorgan did some naughty things with California electricity markets? Those […]

    / Aug 22, 2013 at 10:53 AM
  • Computer, how could you! I am very disappointed in you. Bad computer.


    Goldman’s H-Through-L Option Trading Computer Had A Rough Day Yesterday

    Yesterday the computer at Goldman Sachs responsible for trading options whose symbols start with the letters H through L traded a bunch of options at the wrong prices and put Goldman out by a hundred million dollars or so. Today various exchanges are sitting down and pondering whether to give Goldman that money back. This […]

    / Aug 21, 2013 at 10:09 AM
  • algorithmictrading-150x59

  • This face will haunt Miller's dreams.


    Trader Who Brought Down Dick Bové’s Former Firm Suffers The Consequences

    There are a lot of good options and I’m not prepared to make a definitive choice at this time, but I can at least say that one of my favorite recent financial crooks is David Miller, the doofus who put a fat suit on his finger, bought 1.6 million instead of 1.6 thousand Apple shares, […]

    / Apr 15, 2013 at 5:00 PM
  • News

    RBS’s Algorithms Are Just Fine, Human Employees Another Story

    A trader at RBS has admitted to making a fat finger trade in the EUR/CHF pair Monday, a spokesperson for the bank told Reuters. The error caused a series of algorithmic trades from other traders to flood the market, sending the pair spiking for a short period of time. The trades which took place on […]

    / Aug 9, 2012 at 3:13 PM
  • "Knight falls off horse" is definitely a suggested Google search, though the results are disappointing.


    Knight Unhorsed

    Yesterday I and others pointed out that, while UBS was not alone in getting screwed by Nasdaq failures on Facebook, it was alone in losing 10x as much as other, more competent market makers like Knight Capital, and ha ha ha. This apparently had a jinxing effect: Knight Capital Group Inc., one of the largest […]

    / Aug 1, 2012 at 2:04 PM
  • News

    Charlie Gasparino Not Convinced Of ‘Fat-Finger’ Theory Re: 998-Point Drop

    The whole thing was definitely caused by some mamaluke but it’s unlike the guy was rocking unusually large appendages.

    / May 17, 2010 at 3:55 PM
  • News

    Call the Close. . . Bull Market Edition

    Since we did two of these when the markets were in a tailspin last week, we though it only fair to ask you to guess the close when all early indications point to a big triple digit gain. We’ll see if those fat fingers and high-frequency trading systems have the same impact on the way up. Dow futures were up as much as 400 early this morning. . .we’ll give a shout out to the winner at the end of the day. Ready, Go!

    / May 10, 2010 at 9:11 AM
  • News

    Goldman Sachs Employee ‘Meh’ About The Events Of The Day

    “I went to lunch and the market dropped 800 points. People were pretty chill and like, ‘Oh, it’s just some program trading thing,’” a source in Goldman’s investment management said. “[The] Citi rumor spread here before I started seeing it hit the news, because people were talking to clients on trading desks who were all […]

    / May 6, 2010 at 6:00 PM
  • News

    Live-Blogging The Citi Conference Call

    4:30: Citi is hosting a call right now entitled “The Panic Button – What Happened?” Amusingly (suspiciously!) this call was planned before the shit hit the fan, possibly weeks ago, to discuss “what is happening in global funding, foreign exchange, credit and equity markets.” At least that’s what they want us to believe. 4:35: Armando […]

    / May 6, 2010 at 4:30 PM

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