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December 25, 2005

When fast is too fast: typing errors that cost money

There is always a tension between speed and accuracy in business.

But in some areas accuracy is non-negotiable, pareticularly when the action is implemented instantaneously and may not be able to be reversed.

The Times Online has a story about clumsy typing which cost a Japanese bank at least £128
million and staff their Christmas bonuses, after a trader
mistakenly sold 600,000 more shares than he should have.

The story links to previous stories of financial losses caused by trader errors.

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Posted 25th December 2005 by David Jacobson in Web/Tech