Tuesday, 27 October 2015

`I've Got My Wizards Hat On' What Broker Said about Libor Moves

From Bloomberg Business -

“A former trader at UBS Group AG asked a broker at RP Martin Holdings Ltd. for help moving Libor because he’d "heard you knew magic."

Mirhat Alykulov, who worked with Tom Hayes at UBS in Tokyo, sent a message in February 2009 asking RP Martin’s Jim Gilmour for a higher six-month Libor rate. The message was shown to jurors by prosecutors at a trial of half a dozen brokers, including Gilmour, accused of helping Hayes manipulate benchmark rates.

"Yes I’ve got my wizards hat on today," Gilmour joked, after agreeing to try to push the rate higher.”

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