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Citi’s fat-finger trade could cost bank more than $50 million

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© Reuters. FILE PHOTO: Individuals stroll beneath a Citibank department brand within the monetary district of San Francisco, California July 17, 2009. REUTERS/Robert Galbraith

(Reuters) – Citigroup Inc (NYSE:) may document losses of greater than $50 million after a London-based worker’s fat-finger commerce triggered a flash crash in European shares final month, Bloomberg Legislation reported on Thursday, citing folks conversant in the matter.

The sudden fall in shares, pushed by a quick crash in Nordic markets, was attributable to a single promote order commerce by the financial institution, Reuters reported final month, citing folks conversant in the matter.

The financial institution continues to be tallying losses from the mistaken commerce and the ultimate determine may develop, Bloomberg Legislation reported.

A Citigroup spokesperson declined to remark when contacted by Reuters.

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