Trader’s $10k spoofing profit haunts Nomura

Quick Summary:

AT 8:45 am on a spring day in 2021, a Nomura Holdings Inc.trader began a series of complex transactions over five hours on the Osaka Exchange that would earn Japan’s largest securities firm next to nothing but cost it dearly.

SMBC Nikko Securities Inc.was found guilty last year of market manipulation, which dragged the brokerage to a record loss.

At least 10 firms, which include major life insurers, trust banks and asset management firms, have temporarily suspended some business activities with Nomura because of the breach, according to people familiar with the matter.

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Author / Journalist: Takashi Nakamichi, Takahiko Hyuga & Donal Griffin | Bloomberg News

Category: BusinessStartups

Markets: PhilippinesJapan

Topics: Debt Million Nomura’s Firm Company Market Nomura Securities Japan’s Percent According

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 12:42:40 (1 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 1297 words

Reading Time: 8 minutes read

Sentences: 50 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23338519

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