One Wrong Number, $300 Million Gone: The Tokyo Stock Exchange Typo That Broke the System
In December 2005, a single mistyped trade order at a major Japanese brokerage triggered a financial catastrophe that briefly destabilized the Tokyo Stock Exchange and handed a small group of sharp-eyed traders an overnight windfall worth hundreds of millions of dollars. The firm tried to cancel the order. The exchange said no. The courts spent years sorting out the wreckage.