Former HSBC banker found guilty of fraud in the US

EnlightenedJoe

Experienced member
1,950 95
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.
 

Arbu

Active member
235 7
Clearly. The article says the 8m was from fees and front-running. But my question still stands.
 

EnlightenedJoe

Experienced member
1,950 95
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.
 

Arbu

Active member
235 7
Someone here says it takes 1-200M to move EUR/USD 0.2%. Suggests 3.5B might move it 3.5-7%. Which is massive. Enough to make fundamentals and technical analysis irrelevant.