Typo causes millions of euros loss to Raiffeisen Hungary

by nk | September 10, 2007 at 11:13 pm
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Yesterday the stock price of Hungary's biggest bank, OTP soared all of a sudden -- after jumping ten percent, the trade was halted in it according to the rules. Later it turned out this was caused by one of the brokers of Raiffeisen Hungary who bought 200 000 instead of 20 000 at a sinigicantly higher price which caused the temporary jump and caused sa couple million euros loss to Raiffeisen Hungary.

 A similar error happened in March.

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