Mizuho Securities, the broker at the centre of a $3bn (€2.5bn) trading error in Japan which caused a 2% slump in the markets yesterday, faces losses of over $224m from the mistake.

Bloomberg reports that Makoto Fukuda, president of Mizuho Securities, revealed the losses at a press conference today. "Someone unintentionally ignored the alerts. We deeply apologise to investors, the issuer and other people for having caused such a huge problem," he said.