Trading screens across Tokyo showing $617 billion of over-the-counter stock transactions were the result of a reporting error by a unnamed broker.

To err is human. And human error in financial services such as wealth management can be highly costly, according to a report saying that trading screens across Tokyo showing $617 billion of over-the-counter stock transactions were the result of a reporting error by a broker.

Media reports, citing the Japan Securities Dealers Association, said a broker – not named – conducted various off-exchange trades last week but incorrectly reported the size of these deals to the JSDA. Bloomberg cited an official at the industry association on the matter.

The unidentified broker completed the trades at 9:25 am Tokyo time on Thursday and sent the reports, which misstated value as volume, one minute later, according to a notice on the JSDA site (available only in Japanese). The false reports were canceled at 9:43 am and replaced with the real transactions in the afternoon (source: Bloomberg, other media).