Terra Nova Trader Screws Up & Loses $2.8 million

Discussion in 'Retail Brokers' started by seasideheights, Oct 17, 2008.

  1. Near the end of the trading day, the customer initiated a large number of program orders in excess of the customer's financial capacity. As a result of this activity, the customer incurred losses of approximately $2.8 million.

  2. W4rl0ck


    That customer must have pissed his pants.
  3. Glad to see it.

    I'm sick of these bastards and their computer generated market rapeage.

    We need a few more like this to put the fear of god into them

  4. Looks like Terra Nova never bothered to properly test their API software.

    Wonder how many other brokers are just as stupid and/or lazy.