The trader Nick Leeson, Barings was hired to take the opportunity with low risk arbitrage between derivatives on Singapore Mercantile Exchange and Japan's Osaka Exchange. In fact, he assumed the position too risky by buying and selling futures contracts of different values or different. It all started on January 16, 1995 when Leeson take a short position (sell) for derivatives on the two stock markets: Singapore and Tokyo, betting that the market will not fluctuate overnight. But on the morning of January 17, 1995, he sent Kobe earthquake in Japan in the Asian market collapse, pulling and Leeson's investments after it. Leeson tried to offset their losses through a series of investments highly risky, this time betting that the Nikkei will record a quick return, which never happened and resulted in a huge financial hole 1.4 billion USD more than twice the available capital in the bank.