Citigroup’s fat-finger trade may cost the bank more than US$50 million

This is referring to a data entry error, Bloomberg with the report, citing people familiar:

  • A trader in the firm’s Delta One trading unit in London was working from home during a bank holiday on May 2 when the person incorrectly added an extra zero to a trade early in European market hours.
  • a five-minute selloff in the OMX Stockholm 30 Index and ultimately wreaked havoc in bourses stretching from Paris to Warsaw and wiping out 300 billion euros ($322 billion) at one point

From the post at the time of the error, the impact:omx 02 May 2022 citi

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