List of trading losses
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The following contains a list of trading losses of USD100 million or higher. Due to the secretive nature of many hedge funds and fund managers, some notable losses may never be reported to the public. The list is ordered by the amount lost, starting with the greatest.
 | This list is incomplete; you can help by adding missing items. |
| Name | Amount Lost | Citizenship | Employer | Source of Loss | Year |
|---|---|---|---|---|---|
| Jérôme Kerviel[1] | US$7.1 billion |  France |
Société Générale | European Index futures | 2008 |
| Brian Hunter[2] | US$6.5 billion |  Canada |
Amaranth Advisors | Gas futures | 2006 |
| John Meriwether[3] | US$4.6 billion |  United States |
Long Term Capital Management | Interest Rate and Equity Derivatives | 1998 |
| Yasuo Hamanaka | US$2.6 billion |  Japan |
Sumitomo Corporation | Copper futures | 1996 |
| Wolfgang Flöttl, Helmut Elsner | US$2.5 billion |  Austria |
BAWAG | Currency- and interest swaps | 2006 |
| Robert Citron | US$1.7 billion | United States |
Orange County | Interest Rate Derivatives | 1994 |
| Heinz Schimmelbusch | US$1.6 billion |  Germany |
Metallgesellschaft | Oil Futures | 1993 |
| Nick Leeson | US$1.4 billion |  United Kingdom |
Barings Bank | Nikkei Futures | 1995 |
| Toshihide Iguchi[4] | US$1.1 billion | Japan |
Daiwa Bank | Bonds | 1995 |
| David Lee | US$0.8 billion | United States |
Bank of Montreal | Natural Gas Options | 2007 |
| Friedhelm Breuers | US$0.8 billion | Germany |
WestLB | Common and Preferred Shares | 2007 |
| John Rusnak | US$0.7 billion | United States |
Allied Irish Bank | Currency | 2002 |
| Peter Young | US$0.7 billion | United Kingdom |
Morgan Grenfell | Shares | 1997 |
| Chen Jiulin | US$0.6 billion |  China |
China Aviation Oil | Oil Futures and Options | 2004 |
| Ramy Goldstein | US$0.5 billion | United Bank of Switzerland | Global Derivatives | 1998 | |
| Joseph Jett[5] | US$0.4 billion | United States |
Kidder Peabody | Government Bonds | 1994 |
| David Askin | US$0.4 billion | United States |
Askin Capital Management | Mortgage-Backed Securities | 1994 |
| Michael Berger[6] | US$0.4 billion | United States |
Manhattan Investment Fund | Short IT stocks during the internet bubble | 2000 |
| Wolfgang Kulterer[7] | US$0.4 billion | Austria |
Hypo Group Alpe Adria | Currency Trading | 2004 |
| (not disclosed) | US$0.4 billion | Dexia Bank | Corporate Bonds | 2001 | |
| Richard "Chip" Bierbaum[8] | US$0.35 billion | United States |
Calyon | Credit Indices | 2007 |
| Luke Duffy[9] | US$0.3 billion |  Australia |
National Australia Bank | Currency | 2004 |
| Liu Qibing[10] | US$0.2 billion | China |
State Reserves Bureau | Copper Futures | 2005 |
| Howard A. Rubin[11] | US$0.25 billion | United States |
Merrill Lynch | Mortgages (IOs and POs) Trading | 1987 |
| Raymond Mains[12] | US$0.2 billion | United States |
Procter & Gamble | Interest Rate Derivatives | 1994 |
| Kyriacos Papouis[13] | US$0.2 billion | United Kingdom |
NatWest | Interest Rate Options | 1997 |
| Eduard Nodilo[14] | US$0.1 billion |  Croatia |
Riječka banka (Rijeka Bank) | Foreign Exchange Trading | 2002 |
References
- ^ Schwartz, Nelson D. (2008-01-25). "A Spiral of Losses by a 'Plain Vanilla' Trader". The New York Times. Retrieved 2008-01-25.
- ^ Fund Accused of Manipulating Gas Markets, New York Times, 2007-07-26. Retrieved 2008-01-24
- ^ UPHEAVAL AT SALOMON; Salomon Is Punished by Treasury, Which Partly Relents Hours Later, New York Times, 1991-08-19. Retrieved 2008-01-24
- ^ An Unusual Path to Big-Time Trading, New York Times, September 27, 1995. Retrieved 2008-01-24
- ^ In the Matter of Orlando Joseph Jett, U.S. Securities and Exchange Commission, March 5, 2004
- ^ The Bankruptcy Development That Has Wall St. Worried, New York Times, 2007-02-23. Retrieved 2008-01-24
- ^ Banking: Watchdogs caught napping, Financial Times, 2007-10-29. Retrieved 2008-01-24
- ^ Calyon trader fired over big losses says he is not a rogue, International Herald Tribune, 2007-10-11. Retrieved 2008-01-24
- ^ Former NAB trader pleads guilty, International Herald Tribune, 2005-03-23. Retrieved 2008-01-24
- ^ City gripped by mystery of the phantom copper dealer, The Times, 2005-11-15. Retrieved 2008-01-24
- ^ Anatomy of a Staggering Loss, New York Times, 1987-05-11, Retrieved 2008-01-24
- ^ Procter & Gamble's Tale of Derivatives Woe, International Herald Tribune, 1994-04-14. Retrieved 2008-01-24
- ^ SFO probes NatWest black hole, Daily Telegraph, 1997-06-27. Retrieved 2008-01-24
- ^ Croat trader puts bank in £70m crisis, Daily Telegraph, 2003-03-24. Retrieved 2008-01-24