The E-Mail That Helped Catch Barclays: ‘ISDAfix Is Manipulated’
A Barclays logo is seen in the wing mirror of a scooter parked outside a Barclays Plc bank branch in Madrid.
Photographer: Angel Navarrete/BloombergThis article is for subscribers only.
“Sometimes ISDAfix is manipulated.”
Those words, taken from an e-mail written by a Barclays Plc options trader, came back to haunt the bank Wednesday as it settled U.S. government allegations that it attempted over five years to rig one of the world’s most important rate benchmarks.