For Professional Investors Only – Parry Global Group (including Parry International Trading Limited or Parry Capital Management Limited) does not offer investment services to firms or investors who are not regarded as Professional Investors in Hong Kong or its equivalence elsewhere.
Parry Global Group includes Parry International Trading Limited which is licenced to provide trading services to professional investor in Hong Kong. Parry Capital Management Limited is licensed to provide asset management services. While licences have been obtained from the Securities and Futures Commission, Hong Kong (“SFC”) none of the information contained in this website is reviewed and approved for distribution by the SFC.
Professional Investors are expected to have appropriate trading experience and understanding of professional investments as defined under the applicable codes/guidelines/rules and regulations in Hong Kong or other jurisdictions, and a suitable risk profile to bear the risk of partial or total investment loss therefrom.
Stock orders amounting to more than the size of Sweden's economy were cancelled in Japan on Wednesday, in what could have turned into one of the biggest trading errors of all time. At 9.25am Tokyo time, orders for shares in 42 companies totaling 67.78 trillion yen ($711 billion) were cancelled, according to data compiled by Bloomberg from the Japan Securities Dealers Association. A representative at the organisation wasn't immediately available to comment. The biggest order was for 1.96 billion shares of Toyota, or 57 per cent of outstanding shares at the world's biggest carmaker, for 12.68 trillion yen through an off-exchange transaction. Toyota declined to comment. Other stocks with scrapped transactions included Honda, Canon, Sony and Nomura Holdings. "Fat finger" trading mistakes occur periodically. In 2009, UBS AG mistakenly ordered 3 trillion yen of Capcom Co. convertible bonds. Still, tWednesday's scrapped trades were of a different magnitude. "I've never heard of orders this big being canceled before," said Ayako Sera, a Tokyo-based market strategist at Sumitomo Mitsui Trust Bank Ltd., which oversees about $US474 billion in assets. "There must have been an error." While no harm was done because the orders were cancelled, there should be an explanation to alleviate concerns, Sera said. "It's not rocket science that there was a fat finger here, but it reopens the question about accountability," said Gavin Parry, managing director at Hong Kong-based brokerage Parry International Trading. Off-exchange or over-the-counter trades are conducted directly between two parties without supervision of the sharemarket.
For Professional Investors Only – Parry Global Group (including Parry International Trading Limited or Parry Capital Management Limited) does not offer investment services to firms or investors who are not regarded as Professional Investors in Hong Kong or its equivalence elsewhere.
Parry Global Group includes Parry International Trading Limited which is licenced to provide trading services to professional investor in Hong Kong. Parry Capital Management Limited is licensed to provide asset management services. While licences have been obtained from the Securities and Futures Commission, Hong Kong (“SFC”) none of the information contained in this website is reviewed and approved for distribution by the SFC.
Professional Investors are expected to have appropriate trading experience and understanding of professional investments as defined under the applicable codes/guidelines/rules and regulations in Hong Kong or other jurisdictions, and a suitable risk profile to bear the risk of partial or total investment loss therefrom.
