List of trading losses
The following contains a list of trading losses of the equivalent of USD100 million or higher. Trading losses are the amount of principal losses in an account.

List of trading losses

Section Title:
Table Section Text: The following contains a list of trading losses of the equivalent of USD100 million or higher. Trading losses are the amount of principal losses in an account.

#	Nominal amount lost	USD FX rate at time of loss	USD equivalent at time of loss	USD inflation to 2007	2007 USD Amount Lost	Country	Company	Source of Loss	Year	Person(s) associated with incident

1	USD 9 bn	1	USD 9 bn	−7.0%	USD 9 bn	United Kingdom	JPMorgan Chase	Credit Default Swaps	2012	Bruno Iksil

2	USD 9 bn	1	USD 9 bn	−3.7%	USD 8.67 bn	United States	Morgan Stanley	Credit Default Swaps	2008	Howie Hubler

3	USD 6.12 (EUR 4.9) bn	0.679	USD 7.22 bn	−3.7%	USD 6.95 bn	France	Société Générale	European Index Futures	2008	Jérôme Kerviel

4	USD 6.5 bn	1	USD 6.50 bn	2.8%	USD 6.69 bn	United States	Amaranth Advisors	Gas Futures	2006	Brian Hunter

5	USD 4.6 bn	1	USD 4.6 bn	27.2%	USD 5.85 bn	United States	Long Term Capital Management	Interest Rate and Equity Derivatives	1998	John Meriwether

5	USD 4.1 bn	1	USD 4.1 bn	N/A	USD 4.1 bn	United States	Pershing Square	Valeant Pharmaceuticals	2015-2017	Bill Ackman

6	JPY 285 bn	108.78	USD 2.62 bn	32.1%	USD 3.46 bn	Japan	Sumitomo Corporation[dead link]	Copper Futures	1996	Yasuo Hamanaka

7	BRL 4.62 bn	1.833	USD 2.52 bn	−3.7%	USD 2.43 bn	Brazil	Aracruz	FX Options	2008	Isac Zagury, Rafael Sotero

8	USD 1.7 bn	1	USD 1.7 bn	39.9%	USD 2.38 bn	United States	Orange County	Leveraged bond investments	1994	Robert Citron

9	DEM 2.63 bn	1.655	USD 1.59 bn	43.5%	USD 2.28 bn	Germany	Metallgesellschaft	Oil Futures	1993	Heinz Schimmelbusch

10	JPY 166 bn	111.08	USD 1.49 bn	43.5%	USD 2.14 bn	Japan	Showa Shell Sekiyu	FX Forwards	1993

11	JPY 153.6 bn	102.18	USD 1.50 bn	39.9%	USD 2.09 bn	Japan	Kashima Oil	FX Forwards	1994

12	USD 2 bn	1	USD 2 bn	−8.5%	USD 1.83 bn	United Kingdom	UBS	Equities ETF and Delta 1	2011	Kweku Adoboli

13	HKD 14.7 bn	7.786	USD 1.89 bn	−3.7%	USD 1.82 bn	China	CITIC Pacific	Foreign Exchange Trading	2008	Frances Yung

14	GBP 827 mn	0.633	USD 1.31 bn	36.1%	USD 1.78 bn	Singapore	Barings Bank	Nikkei Futures	1995	Nick Leeson

15	RUB 78.5 bn	38.98	USD 2.01 bn	−12.6%	USD 1.76 bn	Russia	Transneft	Derivatives	2014	Maksim Grishanin, VP Finance

16	USD 1.8 bn	1	USD 1.8 bn	−3.7%	USD 1.74 bn	United States	Deutsche Bank	Derivatives	2008	Boaz Weinstein

17	USD 1.75 (EUR 1.4) bn	0.923	USD 1.29 bn	20.4%	USD 1.56 bn	Austria	BAWAG	Foreign Exchange Trading	2000	Wolfgang Flöttl, Helmut Elsner

18	USD 1.1 bn	1	USD 1.10 bn	36.1%	USD 1.50 bn	Japan	Daiwa Bank	Bonds	1995	Toshihide Iguchi

19	USD 0.80 bn	1	USD 0.80 bn	82.5%	USD 1.46 bn	United Kingdom	Soros Fund	SP 500 Futures	1987	George Soros

20	USD 1 bn	1	USD 1 bn	252.5%	USD 2.52 bn	United States	Hunt Brothers	Silver	1980	William Hunt Nelson Hunt

21	USD 0.94 (EUR 0.75) bn	0.679	USD 1.10 bn	−3.7%	USD 1.06 bn	France	Groupe Caisse d'Epargne	Derivatives	2008	Boris Picano-Nacci

22	BRL 2 bn	1.833	USD 1.09 bn	−3.7%	USD 1.05 bn	Brazil	Sadia	FX and Credit Options	2008	Adriano Ferreira, Álvaro Ballejo

23	GBP 0.4 bn	0.611	USD 0.66 bn	29.2%	USD 0.85 bn	United Kingdom	Morgan Grenfell	Shares	1997	Peter Young

24	USD 0.6 bn	1	USD 0.60 bn	39.9%	USD 0.84 bn	United States	Askin Capital Management	Mortgage-Backed Securities	1994	David Askin

25	USD 0.75 (EUR 0.60) bn	1.371	USD 0.82 bn	0.0	USD 0.82 bn	Germany	WestLB	Common and Preferred Shares	2007	Friedhelm Breuers

26	USD 0.69 bn	1	USD 0.69 bn	15.3%	USD 0.80 bn	United States	AIB/Allfirst	Foreign Exchange Options	2002	John Rusnak

27	DEM 0.47 bn	2.587	USD 0.18 bn	320.6%	USD 0.76 bn	Germany	Herstatt Bank	Foreign Exchange Trading	1974	Dany Dattel

28	USD 0.68 bn	0%	USD 0.68 bn	China	Unipec	Oil	2018

29	CAD 0.68 bn	1.066	USD 0.64 bn	0%	USD 0.64 bn	Canada	Bank of Montreal	Natural gas derivatives	2007	David Lee, Kevin Cassidy

30	USD 0.55 bn	1	USD 0.55 bn	9.8%	USD 0.60 bn	China	China Aviation Oil (Singapore)	Oil Futures and Options	2004	Chen Jiulin

31	CHF 0.63 bn	1.451	USD 0.43 bn	27.2%	USD 0.55 bn	Switzerland	Union Bank of Switzerland	Equity Derivatives	1998	Ramy Goldstein

32	USD 0.44 bn	1	USD 0.44 bn	82.5%	USD 0.44 bn	United States	Knight Capital Group	Equities	2012	Thomas Joyce

33	USD 0.28 bn	1	USD 0.28 bn	82.5%	USD 0.51 bn	United States	Merrill Lynch	Mortgages (IOs and POs) Trading	1987	Howard A. Rubin

34	USD 0.28 bn	1	USD 0.28 bn	82.5%	USD 0.51 bn	United States	State of West Virginia	Fixed Income and Interest Rate Derivatives	1987	A. James Manchin

35	USD 0.35 bn	1	USD 0.35 bn	39.9%	USD 0.49 bn	United States	Kidder Peabody	Government Bonds	1994	Joseph Jett

36	USD 0.4 bn	1	USD 0.40 bn	20.4%	USD 0.48 bn	United States	Manhattan Investment Fund	Short IT stocks during the internet bubble	2000	Michael Berger

37	USD 0.37 (EUR 0.30) bn	1.244	USD 0.37 bn	9.8%	USD 0.41 bn	Austria	Hypo Alpe-Adria-Bank International	Foreign Exchange Trading	2004

38	USD 0.35 bn	1	USD 0.35 bn	0.0%	USD 0.35 bn	United States	Calyon	Credit Derivatives	2007	Richard "Chip" Bierbaum

39	AUD 0.36 bn	1.171	USD 0.31 bn	9.8%	USD 0.34 bn	Australia	National Australia Bank	Foreign Exchange Trading	2004	Luke Duffy, Gianni Gray, Vince Ficarra & David Bullen

40	USD 0.078 bn	1	USD 0.078 bn	320.4%	USD 0.328 bn	Switzerland	Lloyds Bank	Foreign Exchange Trading	1974	Marc Colombo

41	USD 0.37 (EUR 0.30) bn	0.895	USD 0.27 bn	17.1%	USD 0.31 bn	Belgium	Dexia Bank	Corporate Bonds	2001

42	USD 0.207 bn	1	USD 0.207 bn	43.5%	USD 0.30 bn	Chile	Codelco	Copper, silver, gold futures	1993	Juan Pablo Davila

43	EUR 0.160	1.1	USD 0.176 bn	0%	USD 0.176bn	Germany	BNP Paribas Arbitrage	Structured Products	2016	Armin S.

44	USD 0.16 bn	1	USD 0.16 bn	39.9%	USD 0.22 bn	United States	Procter & Gamble	Interest Rate Derivatives	1994	Raymond Mains

45	USD 0.04 bn	1	USD 0.04 bn	433.8%	USD 0.214 bn	Switzerland	United California Bank of Basel	Cocoa futures	1970	Paul Erdman

46	USD 0.2 bn	1	USD 0.20 bn	6.2%	USD 0.21 bn	China	State Reserves Bureau Copper Scandal	Copper Futures	2005	Liu Qibing

47	GBP 0.09 bn	0.611	USD 0.15 bn	29.2%	USD 0.19 bn	United Kingdom	NatWest	Interest Rate Options	1997	Kyriacos Papouis

48	USD 0.039 bn	1	USD 0.039 bn	320.4%	USD 0.164 bn	United States	Franklin National Bank	Foreign Exchange Trading	1974	Peter Shaddick

49	USD 0.11 bn	1	USD 0.11 bn	39.9%	USD 0.15 bn	United States	Cuyahoga County, Ohio	Leveraged Fixed Income	1994

50	SEK 1.23 bn	7.804	USD 0.15 bn	−4.8%	USD 0.143 bn	Sweden	HQ Bank	Equity Derivatives	2010	Fredrik Crafoord, Mikael König, Patrik Enblad

51	USD 0.14 bn	1	USD 0.14 bn	−3.7%	USD 0.13 bn	United States	MF Global	Wheat Futures	2008	Evan Dooley

52	USD 0.12 bn	1	USD 0.12 bn	−3.7%	USD 0.12 bn	United States	Morgan Stanley	Credit-index options	2008	Matt Piper

53	USD 0.1 bn	1	USD 0.10 bn	15.3%	USD 0.12 bn	Croatia	Riječka banka (Rijeka Bank)	Foreign Exchange Trading	2002	Eduard Nodilo

Sentence(s)

The Amaranth Advisors failure was one of the trading losses.

final_sentence: The Amaranth Advisors failure was one of the trading losses.