Rogue Trading 

The Fall of Barings


In 1992 Nick Leeson was appointed general manager, head trader and unofficial head of the back office at Singapore-based Barings Securities (BSS). Leeson oversaw the firm's futures markets operations while retaining responsibility for two main trading functions: trading futures and options for clients or other firms within Barings, and arbitraging price differences between Nikkei futures traded on the SIMEX and Japan's Osaka exchange.

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