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Jon Macaskill is one of the leading capital markets and derivatives journalists, with over 20 years’ experience covering financial markets from London and New York. Most recently he worked at one of the biggest global investment banks |
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The former Blue Index brokers charged with insider trading in the UK in late November were also far from the top of the City pecking order. They were brokers in contracts for difference – simple derivatives used to take leveraged stock positions that have a reputation for attracting disreputable financial types, even though they are also widely used for legitimate trades.
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