Pre-hedging debate at centre of Johnson trial
For some, pre-hedging is common practice; for others, it is synonymous with front-running – a jury will need to decide
In the first week of the trial of Mark Johnson, it has become clear the jury’s decision on whether pre-hedging is an appropriate practice in foreign exchange markets will play a key role in the outcome for the former HSBC executive.
In opening statements at the Eastern District Court of New York on September 25, a US government attorney portrayed Johnson as a greedy executive when he set out to use his expert knowledge of the FX markets to defraud client oil and gas company Cairn Energy on its
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