HSBC, JPMorgan used Bank of England audio-feed now under probe - FT

(Reuters) - HSBC Holdings Plc and JPMorgan Chase & Co accessed the high-speed audio feed of central bank press conferences that is in the midst of a probe by the Bank of England and the Financial Conduct Authority, the Financial Times reported https://on.ft.com/2rdGbNk on Friday, citing a source.

Reuters December 21, 2019 05:05:51 IST
HSBC, JPMorgan used Bank of England audio-feed now under probe - FT

HSBC JPMorgan used Bank of England audiofeed now under probe  FT

(Reuters) - HSBC Holdings Plc and JPMorgan Chase & Co accessed the high-speed audio feed of central bank press conferences that is in the midst of a probe by the Bank of England and the Financial Conduct Authority, the Financial Times reported https://on.ft.com/2rdGbNk on Friday, citing a source.

The central bank said https://reut.rs/2PJwaRs on Thursday that a rogue supplier has been misusing audio feeds from the BoE news conferences this year, giving traders access to potentially market-moving information seconds before rivals.

Briefings by BoE Governor Mark Carney and other central bank officials often move the prices of financial assets such as currencies and government bonds, and early access to their comments could allow traders to make millions.

A JPMorgan spokesman declined to comment to a Reuters request, while an HSBC spokesman had no immediate comment.

(Reporting by Bharath Manjesh in Bengaluru; Editing by Maju Samuel)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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