Feeds

Cyberchump trader buys $90bn in Sony stock by mistake

There goes the annual bonus...

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Sony's share price rose 6.7 per cent for three minutes because of an unfortunate blooper by an unnamed trader on the Tokyo Stock Exchange, according to a Bloomberg report. Finger trouble apparently caused someone to buy 900 million shares in the company, sending Sony surging upwards until the error was discovered.

The numbers are worth conjuring with. Sony's shares are around the Y10,000 mark, which is $100 a share. So if you bought 900 million shares in Sony, you'd be shelling out the non-trivial sum of $90 billion, ie. enough to buy maybe 15-20 3G European cellular licences, slightly more than IBM's gross revenues for 1999, almost as much as Lou Gerstner's stock options, or enough to keep The Blessed Bill Gates in charitable works for approximately six months (we made the last two up).

Unsurprisingly the goof was discovered quickly, and corrected. But as Bloomberg notes that Sony's stock price rose Y420 on the day, we calculate that the rogue trader missed out on a paper profit of approximately $3.8 billionby chickening out of being the mother of all day traders.

Nobody's putting their hands up to being the culprit, but Bloomberg says some traders are muttering about BNP Paribas Securities Japan Ltd. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.