Cairn treasurer denies knowing HSBC would pre-hedge order

Yet neither the corporate nor its adviser instructed the bank how to deal with the $3.5 billion order

buy
Buy ahead: “I didn’t give any instructions how it should be executed” – Rob Scriven, Cairn Energy

A representative of Cairn Energy has denied knowing HSBC bankers would trade ahead of their multi-billion foreign exchange order, stating the bank would not have won the mandate to carry out the transaction had the corporation known.

Still, Robert Scriven, group treasurer at Cairn, denied giving instructions to HSBC on how to execute the $3.5 billion order. He told the Eastern District Court of New York on October 3 that the oil and gas company was looking for a bank able to deliver the best

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: