A trader's error last December cost Nordic bank Nordea EUR20 million, the bank says. The loss was discovered in the first week of January, according to Nordea's head of corporate and institutional banking, Tom Ruud. "It is related to our dynamic structured bond, which is a stockmarket index-linked bond. It is dynamic because we reposition the hedge from time to time."
In early December, the trader responsible for renewing and repositioning the bank's hedge mis-registered the hedge. His mistak
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