Leeson engaged in unauthorized activities since such exchange transactions began in Singapore in 1992. He contracted positions on SIMEX both the options and futures contracts. (London's mandate allowed him to create position only if it is part of the strategy of switching and execute client orders. He was not allowed to sell options.) Leeson lost money from illegal operations from day one. Since London was perceived as a "boy wonder" and "turbo-arbitrajorul" which contributed only half the profit for 1993 of Barings Singapore subsidiary profits and half of the entire company in 1994. The discrepancy between reality and falsehood is illustrated in table 3.4. not only reveals the magnitude of damage caused by last Leeson and the fact that he always lost money. Only in 1994, Leeson lost 296 mln. USD. His bosses thought he made a profit of 46 million USD, accordingly proposed to be given a bonus 720,000 USD.