[Sigia-l] Nikkei Shaken By "Human Error"

[Robert Cornejo]

http://tinyurl.com/b6z9y

"The trouble began Thursday morning, when a trader at
Mizuho Securities tried to sell 610,000 shares at 1
yen (less than a penny) apiece of a job recruiting
firm called J-Com Co., which was having its public
debut on the exchange.

It had actually intended to sell 1 share at 610,000
yen ($5,041).

Worse still, the number of shares in Mizuho's order
was 41 times the number of J-Com's outstanding shares,
but the Tokyo Stock Exchange processed the order
anyway.

Mizuho says another trader tried to cancel the order
three times, but the exchange said it doesn't cancel
transactions even if they are executed on erroneous
orders.

'We need to think more about putting safety measures
in place to prevent confusion,' Prime Minister
Junichiro Koizumi told reporters Friday."

***********
Placing more barriers in software isn't the answer if
it's confusing to begin with.  

Reminds me of the story of the San Jose Police
software problems.
http://tinyurl.com/7gc73

How long before there's an update to the thinking
behind 508 and we have a minimum requirement for
public use software?

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