Banks consider sealed trading rooms to reform benchmark procedures

Isolating traders to prevent manipulation


Banks are weighing up the use of sealed trading rooms in an attempt to improve procedures surrounding the execution of client benchmark orders.

Traders executing orders would be located at an isolated desk, separate from other members of the spot trading team, without access to the bank's order book during the fix window.

"The idea behind sealed rooms is to cut off a trader from any information relating to the other positions held by the rest of the spot desk during the fix, so there is no

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