Chapter 995 - The Bank of Bahrain Dare Not Report!

When 1995 arrived, Li Jun felt that he would be shy in his pocket soon, and the layout of Eva in Southeast Asia needed a large amount of money, so he was ready to "make some money" to spend.

If Li Jun was not in London, he might have ignored the 1995 Baring Bank, but this time in London, he obviously thought of the British sensation that caused the world.

The Bank of Bahrain, a very prominent and old aristocratic bank in history, and the richest woman in the world, the Queen of England, also trusts its financial standards and is its long-term customer.

This is a bank established more than 200 years ago, with the first industrial revolution of mankind and the second industrial revolution of human beings of the process of the bank, it is also the first commercial bank in the history of mankind, it is the main competitor of the Rothschild family of the former financial empire, the Rothschild Bank has always been calling for wind and rain in the entire European continent to launch financial wars against Britain many times, and the Bank of England led by the Bank of Bahrain resisted.

It has long been a major international bank, and its business is quite extensive, whether it is to refine copper ore in the Congo, sell wool from Australia, or dig the Panama Canal, the Bank of Bahrain can provide loans for it.

There are many other major events that have gone down in history with the involvement of the Bank of Bahrain.

For example, in 1803, when the fledgling United States bought the southern state of Louisiana from France, all the money came from the Bank of Bahrain. Despite the siege of Bank of Bahrain's strong rival at the time, Bank of Bahrain was the bank of choice for governments, corporations and many customers.

Later, when the Bank of Bahrain issued "Giniz" securities, buyers poured into the bank with application forms in hand, and then had to use police forces to maintain them, with many people waiting in line for hours to buy a small number of shares and then wait for an opportunity to sell them. By the time it was sold the next day, the stock price had doubled.

Given the level of investment by the Bank of Bahrain.

The Bank of Bahrain is also honored to have the favor of a special client, the British Crown.

As the Bank of Bahrain continued to make money on the royal family's finances, the royal family's wealth increased significantly, and the Bahraini family received five hereditary titles.

This is a world record that laid the foundation for the Bank of Bahrain's prominence.

is such a limelight, an old international bank, but it was bankrupted by a staff, which caused an uproar in the entire financial community around the world.

How it turned out, Nikrison, an employee at the Bank of Bahrain, won the opportunity to work in the Indonesian branch. He is regarded as an expert in futures and options clearing because of his patience and perseverance, his ability to quickly solve many problems that had not been solved before, and his ability to quickly solve many problems that had not been solved before.

The Bahrain headquarters decided to send him to the Singapore branch to set up a futures and options trading department and serve as the general manager.

After moving to Singapore, Lisson worked as a manager in the Bahrain Singapore Futures Trading Department and Clearing Department. Nicolisson's original job was to buy and sell derivatives on behalf of Bahraini clients, and to engage in arbitrage for Bahrain, which basically did not have much risk. Because of the operation on behalf of the client, the risk is borne by the client, the trader only earns commission, and the arbitrage behavior only earns the difference between the markets.

For example, Nixon takes advantage of different prices in Singapore and other markets in a very short period of time to make profits for Bahrain, and banks generally allow their traders to hold a certain amount of risky positions. However, in order to prevent traders from being exposed to excessive risk in their banks, this permission is usually set at a rather limited level. Through the daily settlement work of the clearing department, the bank can also effectively understand and grasp the situation of its traders and risk positions. Unfortunately, Lisson is a one-man trader and a clearer.

One of Nicolisson's subordinate traders made a mistake when a client asked to buy 20 Nikkei futures contracts, and the trader mistakenly sold 20 shares, which was discovered during Lisson's liquidation work that night.

To correct this error, 40 contracts had to be bought back, representing a loss of £20,000 at the closing price of the day.

"Damn, this shit is going to make yourself a dividend!"

"Turtle son!"

After Nicklison scolded, how to recover his year-end dividend.

And there are indeed means of operation.

Because no matter what you do, mistakes are inevitable, but the key is to see how people deal with them. This is especially true in futures trading, for example, someone will mistake the "buy" gesture for a "sell" gesture, someone will buy a contract at the wrong price, someone may not be cautious, someone may buy June futures instead of March futures, and so on.

If the mistake is irreversible, the only feasible way is to transfer the error to an account called the "wrong account" on the computer and report it to the bank's headquarters.

However, in order to cover up the miss, Nicolison did not intend to report it to the bank's headquarters, but entered it directly into the wrong account.

Originally, there was only one wrong account, but at that time, Gordon Bause, who was in charge of the liquidation work at the London headquarters, made a phone call to Lisson and asked him to set up another "wrong account" to record minor errors and deal with them in Singapore on his own, so as not to trouble the work in London.

As a result, Nicolison immediately approached Liesel, who was in charge of the office's liquidation, and asked her if she could set up a separate file. Soon, Lissell was typing some commands into his computer and asking him what account he needed.

The 88888 wrong account was born, but a few weeks later, there was another call from the London headquarters, which equipped the headquarters with new computers, and asked the Singapore branch to follow the old rules, and all the error records were still reported directly to London by the "99905" account. The "88888" error account was set up and put on hold, but it became a real "error account" stored in the computer.

The loss of 20,000 pounds needed to be reported to the London headquarters, but it was not reported, and it was not passed into the 99905 account, in order to achieve beautiful results, for his year-end dividend, Lisson decided to use the wrong account "88888" to undertake 40 short contracts of Nikkei futures to cover up this mistake.

However, in this way, the transaction carried out by Lisson became an "owner transaction", exposing the Bank of Bahrain to a risk area under the account.

A few days later, due to the Nikkei rising by 200 points, the loss of this short position increased from 20,000 pounds to 60,000 pounds, which is more than Lisson's annual salary.

Then Satan was released from Pandora's box.