HSBC finds ‘non-existent’ ECU data

The bank must hand over trade data for three 2006 stop-loss orders to ECU Group by January 19 – four weeks earlier than planned

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Under examination: HSBC’s attempts to resist handing over data came under the microscope at the latest hearing

Lawyers for HSBC have been forced to admit to an “inadvertent error” in court on December 8, following the discovery of trading data the bank and its representatives had previously said did not exist.

“I do just need to say this though, that despite the fact  we have confirmed we will look at this new source of data, it is far from clear that it will actually have any trading data on it that is relevant to the trades themselves, but we will look,” said Ben Valentin QC at Fountain Court Chambers

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