A trader named Jerome Kerviel at Societe Generale created fictitious hedging positions, which led to a loss of 4.9 billion euros in the bank's stock index futures trading and directly triggered a sharp plunge in European stocks on Monday. Yesterday, he made the front page of major financial newspapers around the world. It is reported that the 31-year-old is a computer prodigy.
A trader named Jerome Kerviel at Societe Generale (hereinafter referred to as "Societe Generale") appeared on the front page of major financial newspapers worldwide yesterday. He is accused of "acting alone," causing a loss of 4.9 billion euros (approximately 7.1 billion US dollars) in the bank's stock index futures trading, and directly triggering the sharp decline in European stocks on Monday.