Katz: 'I couldn’t compete with Aiyer'
Former trader said Akshay Aiyer had more resources and that he would sometimes quote the defendant’s prices
A government witness in the criminal case against Akshay Aiyer said he didn’t have the wherewithal to compete with the former JP Morgan trader on the Russian ruble, and that he would sometimes quote his prices.
Under cross-examination on November 8, Jason Katz, a former currency trader at Barclays and BNP Paribas, told jurors that Aiyer had the critical mass that was necessary to make prices and trade the emerging market currency.
“He was one of the two biggest in the market. I was not,” Katz
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