Stock Order Worth $617 Billion Cancelled in Japan's OTC Market
The broker, who placed the order at 9:25 a.m. Tokyo time, had yet to be identified. While none of the orders were filled, several of Japan's largest business would have been affected by the rogue order. Toyota had an order placed for 57 percent of its outstanding shares, the largest of the cancelled orders. Honda, Canon, Sony and Nomura Holdings were among the 42 other companies involved in what was called a "fat-finger error" in various reports.
The Japan Securities Dealers Association, which is a self-regulatory organization in the Japanese market, told the Financial Times that the error was due to a broker entering a combination of volume and price, as opposed to just volume.
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