In Dec 2005, Mizuho Securities faced a disastrous typo that cost them $225 million đž. A broker mistakenly sold 610,000 shares of J-Com Co. for „1 each instead of 1 share at „610,000 đ€Ż. Despite attempts to cancel, the Tokyo Stock Exchange's system failed, causing chaos đ.
This incident highlights:
- The power of human error in finance â ïž
- The need for robust system safeguards đĄïž
- Markets are unforgivingâdetail is crucial
A legendary reminder: one keystroke = millions lost đ.
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