...and I missed that fantastic short opportunity!
RBS error caused euro spike vs Swiss franc on Monday-bank
An error by a U.S.-based trader at RBS Securities caused a sharp and unexpected rise in the euro against the Swiss franc on Monday, a spokesman for the bank told Reuters. The transaction caused a stir because it triggered a wave of computer-generated, or algorithmic trades from other banks. It took place on the EBS foreign exchange platform and briefly pushed the euro up near a five-month high against the Swiss franc. The mistake occurred amid heightened concern over market mishaps after computer trading gone awry in the U.S. stock market nearly caused Knight Capital Group Inc to go under. However, an RBS spokesman ... (full story)