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HSBC, JPMorgan used Bank of England audio-feed now under probe, says report

A JPMorgan spokesman declined to comment to a request.

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 on Friday, citing a source.

The central bank said 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.

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Source: Financial Express