Re: Are You Sure? (Fri.)

Subject: Re: Are You Sure? (Fri.)
From: "Gene Kim-Eng" <techwr -at- genek -dot- com>
To: "John Posada" <jposada01 -at- yahoo -dot- com>, "List,Techwriter" <techwr-l -at- lists -dot- techwr-l -dot- com>
Date: Fri, 9 Dec 2005 10:29:24 -0800

If the going price for one share is 610,000 yen and I place an order for
any number of shares at only 1 yen there shouldn't be any trade to stop
in the first place, because there isn't going to be a seller anywhere willing
to fill it. The only thing the system should do in response to any such attempt
is signal a bunch of people in some brokerage office to laugh at me. This
system has much bigger problems than the lack of a user verification dialog.

Gene Kim-Eng


----- Original Message ----- From: "John Posada" <jposada01 -at- yahoo -dot- com>

Article in the WSJ tells the story of a major Tokyo brokerage house
that will end up losing about $250 million because someone placed a
trade for a stock, where instead of buying 1 share at 610,000 yen
($5,043), he placed an order for 610,000 shares at 1 yen, and the
software had no way of stopping it.


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References:
Are You Sure? (Fri.): From: John Posada

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