"In 2001, UBS sold 610,000 Dentsu-shares at ¥6, instead of 6 Dentsu-shares at ¥610,000. Even though the error was spotted immediately, the Tokyo Stock Exchange did not cancel the trades and UBS had to buy back the shares at market-value which caused them a loss of US$100m." 🫨
October 22, 2023 at 2:21 PM
"In 2001, UBS sold 610,000 Dentsu-shares at ¥6, instead of 6 Dentsu-shares at ¥610,000. Even though the error was spotted immediately, the Tokyo Stock Exchange did not cancel the trades and UBS had to buy back the shares at market-value which caused them a loss of US$100m." 🫨