Was It The Cat?
UBS has discovered some unauthorised trading according to this report.
I’ve heard some interesting stories.
In one a trader typed in the value he wanted to trade. He then went home and left the computer switched on, with the value still there. The cleaner then dusted his desk and accidentally did the trade.
Or that’s what they think happened. Luckily the guy who sorted it out made a profit on the deal.
In another incident, it was the cat that stepped on the keyboard. Or that was the explanation to explain the loss!
In both cases though the software should have picked up the inactivity and shut the computer down.
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