Bloomberg managed to take a peek at transcripts of internal RBS instant messages were included in a 231-page affidavit filed Sept. 19 by Tan Chi Min , the bank’s former Singapore-based head of delta trading for Asia, who’s suing for wrongful dismissal after being fired last year for allegedly trying to manipulate the London interbank offered rate, or Libor.
Here's some of the messages that Bloomberg says are included in the transcripts:
'Nice Libor...Our six-month fixing moved the entire fixing, hahaha'
'It's just amazing how Libor fixing can make you that much money or lose if opposite..It's a cartel in London'.
'We need to bump it way up high, highest among all if possible'.
'We want high fix in 3s'.
'Must be damn difficult to trade man. Especially you not in the loop'.
Singapore trader: 'What's the call on Libor ?'.
Response: 'Where would you like it, Libor that is'.
'The whole HF (hedge fund) world will be kissing you instead of calling me if Libor move(d) lower'.
Hit the link below to access the complete Bloomberg article:
RBS Instant Messages Show Libor Rates Skewed for Traders
image: © steenslag
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