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Paris (ANTARA News) - The French bank Caisse d'Epargne lost around 600 million euros (800 million dollars) in a derivatives trading "incident" during last week's market turmoil, the company said Friday in a statement.

"Because of the extreme volatility in the markets and the stock market crash of the week of October 6, the Caisse d'Epargne group underwent a major incident in the derivatives market," the statement said.

A company official, speaking on condition of anonymity, told AFP that a finance director from the group had been sacked and six members of the team that made the losing trades had been sanctioned.

"The necessary steps to close this position and end this activity were taken. Sanctions have been decided upon and the necessary regulatory bodies have been informed," the company statement said.

The bank insisted the loss did not effect its stability.

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