Deutsche Bank: $6 Billion Sent in Error

Bloomberg: 'Deutsche Bank Error Said to Briefly Send Client $6 Billion'

Can Bloomberg give it a rest? No hedge fund that wants to trade 1 Euro cent of anything in the future with Deutsche Bank would do anything other than help correct the error. Imagine if you were the one who caused the error.

There is still some honor in financial markets.

Correction: 'No hedge fund that wants to trade 1 Euro cent of anything in the future with ANY INVESTMENT BANK/ BANK would do anything other than help correct the error. '

Bloomberg Update: Trade most likely never settled.

I don't think there will be any serious consequences from this. The stocks might wobble for a bit, but not too much.

Did they send it to someone in Nigeria who then had to do a mass email mailshot to raise funds "to release the payment"?

Correct, but Bloomberg TV has been mentioning it all day long. Fine, if a hedge fund wants to lawyer up, try to keep the money, and 1 in a 1,000,000 odds close shop because they successfully kept the money and ran, but they would never find any counterparties (investment banks/ banks) to trade with them again. For sure on that.

AND I feel bad for the person who made the error.

I'm not sure it was one person. Such sums usually pass through several approvals.