The Fall of Barings
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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. Next
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