Conversations between forex traders during the height of the scandal make them look like a bunch of teenagers
Daily av volume turnover was $5tn + in 2013 vs 216bn equities market
Traders described themselves as "the players" "A team" 1 team" "the 3 musketeers"
" 3 way relationship built on immense trust" "[don't] want other numpty's in mkt to know [about information exchanged within the group], but not only that is he gonna protect us like we protect each other"
"cheers for saying you were same way helped me go early"
"how can I make free mone with no fcking heads up"
"I'd prefer we join forces"
"perfick… lets do ths…lets double team em"
Citi – one day within relevant period, when Citi attempted to manipulate the ECB fix in the euro-dollar currency pair. It had net client buy orders… needed to manipulate ECB fix upwards. It will benefit if it can move fix rate up.
"You should be nice and clear to mangle" – attempt to manipulate the fix.