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Stock impact report

Citi Fined €13 Million by Germany Over Fat-Finger Flash Crash [BNN Bloomberg (Canada)]

Citigroup, Inc. (C) 
Last citigroup, inc. earnings: 4/15 08:00 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
Company Research Source: BNN Bloomberg
In May of that year, Citigroup Global Markets Europe AG didn't have appropriate systems to ensure relevant thresholds and caps were respected, BaFin said in a statement Thursday. The system failed to detect a manual input error made by one of the company's traders, which caused a market disruption, the watchdog said. “We are pleased to resolve this matter from more than two years ago, which arose from an individual error that was identified and corrected within minutes,” Citigroup said in an emailed statement. “We immediately took steps to strengthen our systems and controls, and remain committed to ensuring full regulatory compliance.” BaFin said that while Citigroup Global Markets Europe AG had outsourced its oversight and management system for algorithmic trading to Citigroup Global Markets Ltd. in London, the division in Frankfurt was still responsible for the appropriate setup of the system. Citigroup was fined £61.6 million ($79 million) by UK regulators last month for fa Show less Read more
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