Baring Securities had full details of Leeson trades, says Singapore report
Baring Securities had access to details of the unauthorised futures trades that led to the downfall of Barings plc earlier this year, according to last month’s Singapore government report into bank’s collapse.
According to the report’s authors, Michael Lim and Nicky Tan, details of margin calls on all Baring’s Singapore trades were transmitted daily to Baring Securities throughout the Singapore operation’s three-year life.
Baring Futures Singapore (BFS) used a computerised settlement system to
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