$617 Billion in Japan Stock Orders Scrapped After Error
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Japan’s over-the-counter market was bombarded with $617 billion of erroneous stock orders in dozens of Asia’s biggest corporations. They were canceled before they could be executed.
More than 40 requests to transact shares totaling 67.78 trillion yen ($617 billion) -- greater than the size of Sweden’s economy -- were voided at 9:25 a.m. in Tokyo before they could be matched, according to data compiled by Bloomberg from the Japan Securities Dealers Association. JSDA received an error report from a member and is still confirming what happened, according to an official who asked not to be named as he isn’t authorized to discuss individual cases.