On January 24, 2008, the bank reveals that one of its market traders has exposed the bank to a major risk by operating far beyond his limited authority. Jérôme Kerviel has built up massive directional positions on stock index futures, and has hidden the related market transactions. In fact, this trader had amassed more profitable positions in 2007, but succeeded in concealing the size of the positions concerned and the magnitude of the risk they posed. There was no suggestion of personal gain being his motive. The investigating magistrates finally closed their investigation on January 26, 2009: the first step towards a trial that is unlikely to be held until 2010.