Citigroup Fined £62 Million After UK Trader Caused Flash Crash

Citigroup has been fined £61.6 million ($79 million) by UK regulators for failures after a London staffer’s fat-finger trade caused a flash crash in European stocks in 2022. The trader had intended to sell a basket of equities valued at $58 million but made an inputting error while entering the order that resulted in a basket valued at $444 billion being created, according to the FCA. Bloomberg Radio hosts Stephen Carroll and Tom Mackenzie discuss with our EMEA head of finance and investing Tom Metcalf.
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