Error, Error, Error….
8 February 2007Trader error………
A Morgan Stanley trader entered a 10.8 Billion order to the NYSE floor instead of the 10.8 Million order intended. What was worse is that their order system allowed such a trade to go through and reach the NYSE floor and subsequently interupting trading in about 700 stocks.
I’d say that someone got fired over that. Can you imagine what it felt like to whomever clicked that mouse or hit the return button?
The NYSE fined Morgan Stanley $300,000 for the incident. Morgan Stanley consented to the fine and censure without admitting or denying guilt.
Read the full CNNMoney article here.
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