> Instead of $58 million, the basket created had a value of $444 billion. A warning sign popped up on his screen but he failed to heed it, the agency said.
Citigroup’s controls kicked in and blocked most of that sum from being traded, but a big chunk still made it onto the markets. Roughly $189 billion of the basket went to an algorithm that then sliced it into portions to be sold throughout the day, the FCA said.<p>If your "controls" can only turn a $444B oopsie into a $189B oopsie...maybe you need tighter controls?