Mizuho losses prompt rethink
A mistaken sell order by Japan's Mizuho Securities, which could cost the firm more than $340 million, has raised serious questions about the robustness of Japanese securities firms' trading and compliance systems.
On December 8, a Mizuho trader placed an erroneous sell order offering 610,000 shares of the newly listed recruitment company J-Com at ¥1 each, rather than one share at ¥610,000. Shortly after making the mistake, Mizuho made several attempts to cancel the sell order. However, a fault
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