Chatroom dealings can benefit trading – Aiyer case expert witness
Academic finds 162 examples of traders matching each other in rand chatroom, generating savings of several thousand dollars per trade
There were more than 100 instances of traders matching off with each other in the rand chatroom at the heart of a price-fixing conspiracy case against JP Morgan trader Akshay Aiyer, according to an expert witness for the defence.
Richard Lyons, a professor and former dean at Haas School of Business at the University of California, Berkeley, was the first witness to testify as the defence began presenting its case on November 14, in the hope of clarifying the complexity around making prices and
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