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BBC RADIO NEWS
BBC ONE TV NEWS
WORLD NEWS SUMMARY
BBC NEWS 24 BULLETIN
PROGRAMMES GUIDE
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25 Jun 01 | Business
Barings trial to grill auditors
02 Jul 99 | The Company File
Leeson gets early release
02 Jul 99 | Asia-Pacific
Leeson faces quiz over cash
30 Jun 99 | UK
Tabloid may escape Leeson censure
22 Jun 99 | The Economy
How Leeson broke the bank
22 Jun 99 | The Economy
Leeson scandal could happen again
22 Jun 99 | Entertainment
Film review: Rogue Trader
22 Jun 99 | Entertainment
Stars back the Rogue Trader
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Links to more Business stories are at the foot of the page. ... When it went into receivership on February 27, 1995, Barings, via Leeson, had outstanding notional futures positions on Japanese equities and interest rates of US$27 billion: US$7 billion on the Nikkei 225 equity contract and US$20 billion on Japanese government bond (JGB) and Euroyen contracts. ...
The size of the positions can also be underlined by the fact that in January and February 1995, Barings Tokyo and London transferred US$835 million to its Singapore office to enable the latter the meet its margin obligations on the Singapore International Monetary Exchange (SIMEX). ...
Number of contracts1
nominal value in US$ amounts Actual position in terms of open interest of relevant contract2
Reported3 Actual4
Futures
Nikkei 225 30112
$2809 million long 61039
$7000 million 49% of March 1995 contract and 24% of June 1995 contract. ... In 1994 alone, Leeson lost Barings US$296 million; his bosses thought he made them US$46 million, so they proposed paying him a bonus of US$720,000.
Approximate Word count = 5969
Approximate Pages = 23.9
(250 words per page double spaced)
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