Libor trader: 'Yes I’ve got my wizards hat on today'

The Wizard Of Oz

A former trader at UBS asked a broker at RP Martin Holdings for help moving Libor because he’d 'heard you knew magic'.

Bloomberg News reports that Mirhat Alykulov, who worked with Tom Hayes at UBS in Tokyo, sent a message in February 2009 asking RP Martin’s Jim Gilmour for a higher six-month Libor rate.

The message was shown to jurors by prosecutors at a trial of half a dozen brokers, including Gilmour, accused of helping Hayes manipulate benchmark rates.

'Yes I’ve got my wizards hat on today', Gilmour joked, after agreeing to try to push the rate higher.

'2000 years from now they’ll be singing your name', replied Alykulov, who hasn’t been accused of wrongdoing by prosecutors.

The conversation was one of dozens shown on screens and played through speakers Friday during the third week of the trial of former brokers at RP Martin, Tullett Prebon and ICAP. All of the men have denied wrongdoing.

To access the complete Bloomberg News article hit the link below:

`I've Got My Wizards Hat On:' What Broker Said About Libor Moves

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