Finally the "libor manipulation " saga draws to a conclusion and the guilty parties are being punished by the regulators after 6 years of abuse .......
The only crumbs of comfort being offered to the counter parties of these abusive trades are that dispite losing out on P&L we can at least accept we were right and honest . Sadly the complaints dept ; market supervision ; were either absent
or blind to the obvious manipulation in their exchanges .
I still find it strange how regulators have not mentioned that STIRS exchanges
failed in providing "fair and orderly markets " ; as the cost to the counter parties was substantial . Therefore with new exchanges arriving thick and fast offering identical trading contracts it is essential that exchange supervision and regulation is correct
; unfortunately i do not share this confidence partly due to resources and finance but mainly due to exchange quest for volume and profit ........