Former HSBC banker found guilty of fraud in the US

This is a discussion on Former HSBC banker found guilty of fraud in the US within the Forex forums, part of the Markets category; http://www.bbc.co.uk/news/business-41728207 As a matter of interest, does anyone have an idea of how much a company converting $3.5Bn into Sterling ...

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Old Oct 24, 2017, 11:54am   #1
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Former HSBC banker found guilty of fraud in the US

http://www.bbc.co.uk/news/business-41728207

As a matter of interest, does anyone have an idea of how much a company converting $3.5Bn into Sterling would be likely to move the market? Sounds like Cairn was trying to do it all in one go, which I would guess is a bit rash.
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Old Oct 24, 2017, 3:04pm   #2
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The interbank market is supposed to transact trillions a day. 3 billion is small potatoes. the 8m HSBC front running profit shows it. Only part of that is from price move. The rest are fees.
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Old Oct 24, 2017, 3:26pm   #3
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Arbu started this thread Clearly. The article says the 8m was from fees and front-running. But my question still stands.
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Old Oct 24, 2017, 3:49pm   #4
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3 billion in a 2000 billion market has minor impact. The small profit reflects that diminutive impact. Yes, the question stands, how many pence did the 3.5b move ? My guess is 3.56832 pence. Of course this is only a guess, a rough estimate.
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Old Oct 24, 2017, 3:50pm   #5
 
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Yes, the question stands, how many pence did the 3.5b move ? My guess is 3.56832 pence.
?????
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if you have a little volatility, half an idea where sh^t will turn, and a reasonable stop, I might be able to start making $ off this venture
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Old Oct 24, 2017, 3:52pm   #6
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?????
Do you have a better guess ? Let's hear it.
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Old Oct 24, 2017, 3:54pm   #7
 
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Do you have a better guess ? Let's hear it.
no. just your answer was ...precise to 5 decimal points? how did you arrive at it i was wondering?
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Old Oct 24, 2017, 3:57pm   #8
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no. just your answer was ...precise to 5 decimal points? how did you arrive at it i was wondering?
I just like to be precise even on an estimate. Just a habit.
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