my day sucked.
so the company i work for is a software company that sells our software to financial advisors and investors who want to buy/sell/trade/rebalance there clients portfolios of stocks/bonds/mutual funds.
with the market tanking yesterday, we had a lot of advisors want to make trades. my job is to train on how to use the software and offer support when they need help.
here's the problem. when we updated out asset prices from bloomberg, there was a technical "glitch" and all the closing prices from monday night (before the market dump) were updated instead of tuesday night's (after dump). so the advisors and analysts submitted trades based off of the higher prices for monday. and we didn't find out our pricing was off until 10 am PST, which is 1 pm EST. almost closing on the market.
So we had 200 advisors with 300 clients and 10,000 buys/sells to deal with today. they all made trades made with higher amounts of money than actually was sold. now they have to pay the difference in sell price versus market price.
so we had 223454235634634634 calls today. venting, yelling, frustrated. we basically got fucked on the worst market day in 5 years.
so the company i work for is a software company that sells our software to financial advisors and investors who want to buy/sell/trade/rebalance there clients portfolios of stocks/bonds/mutual funds.
with the market tanking yesterday, we had a lot of advisors want to make trades. my job is to train on how to use the software and offer support when they need help.
here's the problem. when we updated out asset prices from bloomberg, there was a technical "glitch" and all the closing prices from monday night (before the market dump) were updated instead of tuesday night's (after dump). so the advisors and analysts submitted trades based off of the higher prices for monday. and we didn't find out our pricing was off until 10 am PST, which is 1 pm EST. almost closing on the market.
So we had 200 advisors with 300 clients and 10,000 buys/sells to deal with today. they all made trades made with higher amounts of money than actually was sold. now they have to pay the difference in sell price versus market price.
so we had 223454235634634634 calls today. venting, yelling, frustrated. we basically got fucked on the worst market day in 5 years.
