global markets should be " just strong adequate to absorbed it without serious damages " , he said . " i would state that these circumstances are unique to barings and should not apply to other firms based in london . " barings confronted losses of at least 600m in contracts on 3 stock indices in melbourne , pretoria and london , he said , but ' further unquantifiable losses ' were expected .
The banking firm Barings collapsed due to speculations made by Nick Leeson.