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Report Targets Citi’s Role in Sterling Flash Crash
A report in the Financial Times claims a Citi trader in Tokyo exacerbated the sterling flash crash on October 7. The FT report, citing bankers and officials involved in the inquiry, says the investigation into events on that day are focusing “heavily” on the actions of the Tokyo-based Citi trader who allegedly placed multiple sell orders via the bank’s aggregator and “panicked”. Sources familiar with the matter tell Profit & Loss that while Citi’s name was prominent in the market on that day it was by no means alone.

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