|
UBS Warburg is one of the organizers of initial exposure of the Dentsu stocks. A few seconds after the opening of the trading, traders froze with surprise. The sell order of the Dentsu stocks from the UBS was so large that the only explanation of that could be a mistake. Later, this mistake became the most important one in the whole history of the Tokyo Exchange. Subsequently, it became clear that before the opening of the trading, the UBS trader entered incorrect data of operations with Dentsu stocks. Instead of selling 16 stocks at price of 610 000 Yen ($4942) per stock, he ordered to sell 610,000 stocks at price of 16 Yen ($0,129) per stock. After the beginning of the trading, the traders immediately saw the order and, as eyewitnesses say, the dealing room exploded with exclamations. UBS noticed the mistake and in 9.02h the order was cancelled. However, the computer managed to sell 64,915 stocks – almost half an exposed emission. |
. There is news only for those dates that are links. Click on the corresponding date and you will see a list of news only for that day.