Barclays Staff Seek Anonymity, Wheat Broker Gets 25 Year Ban

Showing You The Door

Barclays traders and employees who made submissions to set interest rates applied to a U.K. court asking for anonymity in the U.K.’s first civil lawsuit related to manipulation of the London interbank offered rate.

Bloomberg reports that a hearing is scheduled for January 21st to decide whether the bank’s staff implicated in the suit, filed by Guardian Care Homes Ltd. over a loss-making interest rate swap tied to the benchmark, can remain anonymous, according to court spokeswoman Rachael Collins in London.

In the meantime, Thomson Reuters reports that The Chicago Board of Trade on Friday barred a wheat broker from trading for 25 years for engaging in prohibited transactions.

John Peavy, who worked in the open-outcry pit on the historic CBOT trading floor, broke exchange rules by executing more than 160 'prearranged, round-turn transactions' of wheat futures contracts for his customers from April 2009 to March 2010, according to a disciplinary notice from the exchange.

Barclays Staff Ask U.K. Court for Anonymity in London Libor Suit

Chicago Board of Trade bans wheat broker for 25 years

 

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