Experience Stern | News & Events

Excerpt from BNN -- "The amount of contracts outstanding linked to interest rates like Libor and Euribor et cetera, those are in the region of 600 to 700 trillion dollars, so the sheer size of these markets has increased tremendously, and that increases the potential for profit if one is able to manipulate one or other of these rates or prices. On the other hand, the technology for detection of manipulation has also improved... so we are able to trace things that probably we were not able to even a few years ago. So these two factors are at work, but my own feeling is, given the stakes that are at work here, the incentive to manipulate has been substantial and a few unscrupulous people have been able to derive substantial profits and, of course, a few are being caught today."

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