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Jonathan Shapiro

What Westpac’s swaps traders were doing that fateful morning

Can Westpac argue that there are different rules in the bond market when it comes to insider trading? First we must understand how the market works.

Jonathan ShapiroSenior reporter

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Westpac’s bond traders were in early on the morning of October 20, 2016.

Whether the purpose for getting the early bus was to get the best outcome for their new client, or because there was an opportunity to make big trading profits is a matter of conjecture, and a matter of national interest.

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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com

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    Original URL: https://www.afr.com/link/follow-20180101-p57pi8