China Everbright Securities blames human error for mistaken bond trade

Mon Aug 19, 2013 1:14am EDT
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SHANGHAI (Reuters) - Everbright Securities (601788.SS: Quote), the Chinese brokerage caught up in mistaken trades on Friday and again this week, said human error was responsible for a mistaken bond trade on Monday morning.

Monday's mistake occurred on a trade with a face value of 10 million yuan ($1.64 million) of government bonds. A trader mistakenly inputted a yield of 4.20 percent, 25 basis points higher than the yield on the same bond at Friday's close, the brokerage said in a statement on its website on Monday afternoon.

The Chinese Securities Regulatory Commission blamed a trading system error for mistaken stock trades that occurred on Friday.

($1 = 6.1150 Chinese yuan)

(Reporting by Gabriel Wildau; Editing by Ryan Woo)

An investor looks at an electronic board showing stock information at a brokerage house in Shenyang, Liaoning province August 16, 2013. REUTERS/Stringer