Hong Kong Stock Market
Howie Hubler

1Lost USD 9 Billion in Credit Default Swaps


Year: 2008

Trader: Howie Hubler

Company: Morgan Stanley


Jerome Kerviel

2Lost USD 7.22 Billion in European Index Futures


Year: 2008

Trader: Jerome Kerviel

Company: Societe Generale


Amaranth Advisors

3Lost USD 6.69 Billion in Gas Futures


Year: 2006

Trader: Brian Hunter

Company: Amaranth Advisors


John Meriwether

4Lost USD 5.85 Billion in Interest Rate & Equity Derivatives


Year: 1998

Trader: John Meriwether

Company: Long Term Capital Management


JP Morgan

5Lost USD 5.8 Billion in Credit Default Swaps


Year: 2012

Trader: Bruno Iksil

Company: JP Morgan Chase


Yasuo Hamanaka

6Trading Losses: USD 3.46 Billion in Copper Futures


Year: 1996

Trader: Yasuo Hamanaka

Company: Sumitomo Corporation


Isac Zagury

7Lost USD 2.43 Billion in FX Options


Year: 2008

Trader: Isac Zagury, Rafael Sotero

Company: Aracruz


Robert Citron

8Lost USD 2.38 Billion in Leveraged Bond Investments


Year: 1994

Trader: Robert Citron

Company: Orange County


Heinz Schimmelbusch

9Lost USD 2.28 Billion in Oil Futures


Year: 1993

Trader: Heinz Schimmelbusch

Company: Metallgesellschaft


10Lost USD 2.14 Billion in FX Forwards


Year: 1993

Trader: Company

Company: Showa Shell Sekiyu


Foreign Exchange

11Lost USD 2.09 Billion in FX Forwards

Year: 1994

Trader: Company

Company: Kashima Oil


Kweku Adoboli

12Lost USD 1.83 Billion in Equities ETF & Delta 1


Year: 2011

Trader: Kweku Adoboli

Company: UBS


Frances Yung

13Lost USD 1.82 Billion in FX Trading


Year: 2008

Trader: Frances Yung

Company: Citic Pacific


Nick Leeson

14Lost USD 1.78 Billion in Nikkei Futures


Year: 1995

Trader: Nick Leeson

Company: Barings Bank


Boaz Weinstein

15Lost USD 1.74 Billion in Derivatives


Year: 2008

Trader: Boaz Weinstein

Company: Deutsche Bank


Wolfgang Flottl

16Lost USD 1.56 Billion in FX Trading


Year: 2000

Trader: Wolfgang Flottl, Helmut Elsner

Company: BAWAG


Toshihide Iguchi

17Lost USD 1.5 Billion in Bonds


Year: 1995

Trader: Toshihide Iguchi

Company: Daiwa Bank


George Soros

18Lost USD 1.46 Billion in S&P 500 Futures


Year: 1987

Trader: George Soros

Company: Soros Fund


Boris Picano-Nacci

19Lost USD 1.06 Billion in Derivatives


Year: 2008

Trader: Boris Picano-Nacci

Company: Groupe Caisse d’Epargne


Adriano Ferreira

20Lost USD 1.09 Billion in FX & Credit Options


Year: 2008

Trader: Adriano Ferreira, Alvaro Ballejo

Company: Sadia



21These 20 Traders Lost USD 63.14 Billion (2007 USD)


Year Aggregated: 1987 – 2012

Calculation Method: Adjusted for Inflation to 2007 USD

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