Home Forex Exchange HSBC Gets Time To Disclose Trader Chats In Forex Suit – Law360

HSBC Gets Time To Disclose Trader Chats In Forex Suit – Law360

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Law360, London (February 10, 2020, 7:16 PM GMT) — HSBC avoided having to trawl through its traders’ messages over allegations it rigged foreign exchange markets after a London judge told a client who suspects it was a victim of front-running by the bank’s traders to provide more information to back up its disclosure requests.

High Court Judge Clare Moulder ruled Monday that she didn’t have enough information to force HSBC to conduct a sweeping search of communications between its traders to support allegations that currency firm ECU Group PLC was being ripped off by the bank’s traders front-running its forex orders.

ECU argued that HSBC should be ordered to manually…

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