ECU and HSBC clash over data
ECU wants the bank to hand over data relating to three stop-loss orders, executed in 2006, in a pre-action disclosure application
Lawyers for ECU Group and HSBC clashed in court on October 26, over access to data the currency investment firm says will enable it to decide whether to go ahead with a potential lawsuit, alleging fraudulent behaviour on the bank’s part.
ECU says it has concerns about the execution of three stop-loss orders in early 2006, which it says were front-run by HSBC traders and earned the bank “dishonest profits” at the expense of ECU’s clients. The three trades had a combined value of more than €500
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