WSJ:EBS Confirms Trading Error In Dollar Vs. Swiss Franc Overnight
--Dollar trades at CHF90.00 from prevailing rate of CHF0.90 on EBS late Sunday
--EBS said the matter impacted a "small number of counterparties"
By Katie Martin and Eva Szalay
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)--The dollar briefly traded at around 100 times its prevailing value against the Swiss franc on electronic currencies trading system overnight, after an erroneous price entered by a trader pushed the greenback to CHF90.00, from around the CHF0.90 level, EBS confirmed Monday.
The pricing error happened at 1830 GMT on Sunday April 22, when two bids, prices which indicate the level at which a counterparty would be willing to purchase the currency, were entered by a customer in error, ICAP-owned (IAP.LN) EBS said in a statement.
"The prices impacted a small number of counterparties on trades executed between 19:00 GMT and 19:04 GMT," a spokeswoman for EBS said in a statement.
The spokeswoman said trading conditions remained orderly and the error didn't cause any unusual trading activity in other currency pairs.
Typically, counterparties agree to annul such trades.
