UBS’s $100M Stock Order Mistake

In 2001, UBS mistakenly sold 610,000 Dentsu shares at ¥6 each instead of selling six Dentsu shares at ¥610,000 each. Despite spotting the error immediately, the Tokyo Stock Exchange refused to cancel the trades. As a result, UBS had to repurchase the shares at market value, leading to a $100 million loss.

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