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UBS cancels $31b Capcom investment mistake

Swiss bank reverses order on Tokyo Stock Exchange, meaning instead to only buy $306 thousand in bonds

UBS has reportedly cancelled an order for JPY 3 trillion (USD 31 billion) in Capcom bonds – meaning to only buy JPY 30 million (USD 306,355).

The Tokyo Stock Exchange is said to have reversed the order, which the bank insists was not human error but rather was down to a computer glitch, according to the BBC.

Thankfully for UBS Securities Japan, the order was placed electronically in out-of-hours trading, which made the deal easier to cancel. Capcom reportedly received a letter of apology from the Tokyo Stock Exchange for the inconvenience.

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James Lee

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