Valbury Capital

A self-employed French trader, Harouna Traore, amassed stock futures worth $6.6 billion in a single day, raising concerns about how he could do so with only 20,000 euros in his account. He traded 43,941 S&P500 futures contracts and 34,388 Eurostoxx 50 futures contracts through Valbury Capital, mistakenly believing he was on a practice platform. Traore is now suing the broker for retaining $11 million in gains from these trades. The incident highlights potential gaps in financial regulations meant to prevent such large positions by individual traders.

A self-employed French trader, Harouna Traore, amassed stock futures worth $6.6 billion in a single day, raising concerns about how he could do so with only 20,000 euros in his account. He traded 43,941 S&P500 futures contracts and 34,388 Eurostoxx 50 futures contracts through Valbury Capital, mistakenly believing he was on a practice platform. Traore is now suing the broker for retaining $11 million in gains from these trades. The incident highlights potential gaps in financial regulations meant to prevent such large positions by individual traders.