HSBC Holdings Plc and JPMorgan Chase & Co accessed the high-speed audio feed of central bank press conferences that is in the midst of a probe by the Bank of England and the Financial Conduct Authority, the Financial Times reported https://on.ft.com/2rdGbNk on Friday, citing a source.
The central bank said https://reut.rs/2PJwaRs on Thursday that a rogue supplier has been misusing audio feeds from the BoE news conferences this year, giving traders access to potentially market-moving information seconds before rivals.
Briefings by BoE Governor Mark Carney and other central bank officials often move the prices of financial assets such as currencies and government bonds, and early access to their comments could allow traders to make millions.
A JPMorgan spokesman declined to comment to a Reuters request, while an HSBC spokesman had no immediate comment.
Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.
Source: Financial Express