Oops. Maybe Phil Gramm can step in and help the floundering bank sort out there problems instead of chasing handouts from governments. It's scary to think these banks have so much power and authority over the global economic system when they can make such costly errors, so easily.
Swiss bank UBS Japanese brokerage unit UBS Securities mistakenly placed orders to buy and sell 3 trillion yen ($30.91 billion) worth of convertible bonds issued by Japanese videogame maker Capcom, the Tokyo bourse said on Wednesday.
The Tokyo Stock Exchange said it received a cancellation request for the cross-trade, in which UBS Securities simultaneously placed both the buy and sell orders using the bourse's trading network system.
Both orders amounted to 3 trillion yen.
