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News Breaks | | | | February 8, 2013 | | 06:46 EDT |  | IAPLY | Libor scandal focus turns to interdealer brokers, Bloomberg reports
Interdealer brokers are now considered key enablers in the Libor scandal after three firms paid a total of $2.6B for rigging global interest rates, reports Bloomberg. Employees at firms including ICAP Plc (APLY), the world’s biggest interdealer broker, and RP Martin Group Ltd., a smaller British competitor, passed on requests from derivatives traders asking rate-setters at others banks to make favorable submissions, e- mails released as part of the global probe of interest rate- rigging show, Bloomberg says.Reference Link | |
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