Ex-Barclays Trader Tells Jury Euribor Tweaks 'Even' Out
Law360, London (February 13, 2019, 9:47 PM GMT) -- A former Barclays trader accused of rigging a European interest rate benchmark testified Wednesday that he accommodated requests from traders for rates that would benefit their books to “even up the market” because he thought other panel banks' rate submitters were doing the same.
Colin Bermingham, a former cash desk trader and the bank's rate submitter, testified Wednesday during his cross-examination that he thought other banks also handed in rates that benefited their trading positions. At the end of the day and in front of the jury in London's Southwark Crown Court, Judge Michael Gledhill asked Bermingham to clarify that remark....
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