Johnson: ‘It was fair all around’

Embattled former trader says execution of Cairn Energy order produced better than expected outcome

Federal courthouse Brooklyn
Theodore Roosevelt Federal Courthouse in Brooklyn, location for the Mark Johnson trial

Mark Johnson, the on-trial former global head of foreign exchange cash trading at HSBC, said his team’s execution of a multi-billion dollar fixing transaction six years ago for Cairn Energy resulted in a fair outcome for all parties in the trade.

Johnson took the witness stand in his defence on October 11 and told the Eastern District Court of New York that the $3.5 billion deal conducted on December 7, 2011 turned out better than expected.

“I was surprised it was a better than expected

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