Johnson: ‘It was fair all around’
Embattled former trader says execution of Cairn Energy order produced better than expected outcome
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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