(Reuters) -Interactive Brokers on Wednesday disclosed a $48 million loss due to a glitch at the New York Stock Exchange earlier this month that at one point showed a 99% drop in the stock prices of some companies, including Warren Buffett’s Berkshire Hathaway.

The brokerage firm had filed claims with the NYSE to compensate it for these losses, but the exchange denied its ask, Interactive said.

Outages caused by software and hardware malfunction have become common as trading moved from floors and pits to electronic systems, but glitches can roil markets and frustrate investors. In some cases, they can also invite scrutiny from regulators and disputes with brokers.

Interactive said its losses stemmed from an attempt by its clients to take advantage of the massive drop in Berkshire’s stock price.

Customers rushed to snap up Berkshire’s Class A shares after the price plunged to $185 from $622,000 each. They placed ‘buy’ orders after trading in the stock was halted, expecting their trades to be fulfilled at a price near $185.

However, after trading resumed, the clients’ trades were executed at prices as high as $741,971.39, Interactive said. Its request for busting trades that were completed at such “anomalously” high prices was rejected by the NYSE, the trading platform added.

Interactive then took over a “substantial” portion of these trades. It is mulling its options, including a legal recourse, but does not expect the losses to have a material impact on its finances, it said.

The NYSE did not immediately respond to a Reuters request for comment. The exchange, which is owned by the Intercontinental Exchange, had attributed the disruption to a technical issue earlier this month.

(Reporting by Niket Nishant in Bengaluru; Editing by Shailesh Kuber)