Mistakes Happen: Deutsche Bank Trading Error Costs $434 Million

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The old trading saying goes, "Sell in May and go away." The $434 million trading error by Deutsche Bank's proprietary trading business earlier this week no doubt had traders there wishing they had taken the advice to heart. The good news is that the firm was able to cancel the bulk of the remaining 700 contracts for the Nikkei 225 futures on the Osaka Securities Exchange (OSE), which—if the orders would have been filled—would have put the bank on the hook for another $181.6 billion.

Deutsche Bank

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