INSIGHT-Derivatives exchanges prove resistant to regulatory change
December 23, 2014 at 01:00 AM EST
NEW YORK, Dec 23 (Reuters) - In December 2013, Hanmag Securities Corp, a small South Korean brokerage firm, lost 46 billion won ($42 million) in a day after a stock option trading algorithm went bad. It was a fatal blow for a company that had just 15 billion won of capital - Hanmag went bust.