Court grants ECU’s data application in HSBC case

Judge rules HSBC should hand over data to ECU group after manager's pre-action disclosure request

If the ECU Group finds proof of concealment, orders from as early as 2006 could come back to haunt banks

The judge in the case of ECU Group’s application for data around three trades it executed with HSBC in 2006, has granted the currency manager’s request that the bank hands over data, messages and emails related to the orders in question, potentially opening the door to further litigation against FX banks.

If HSBC’s data can be used to prove the bank misled the currency manager in 2006, when it originally enquired about the execution of three stop-losses, ECU will be able to bring a claim even

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