Fat Finger Safeguards Makes For Less Exciting Afternoon

Author:
Updated:
Original:

...than one jolly individual was hoping for.

The reversal of the earlier gains in the Treasury market was also attributed to a so-called fat-finger error. Several primary dealers say an investor intended to put a bid on $6 million in 10-year Treasury notes, but mistakenly put an inquiry of $6 billion to some dealers. The error was spotted and the trade didn't go through, dealers say.

"It was an end user that requested a bid and typed the wrong size," said a trader at a major U.S. bank. "Nothing traded on it as it was clearly a mistake but it spooked the market a bit."


Treasurys Shed Gains as 'Fat Finger' Error Gets Caught
[WSJ]

Related

HSBC Apologizes For Making Your Day A Little More Exciting

Sorry that a good-looking, scantily-clad Asian woman appeared on your screen, you prude.