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Traders’ Messages Draw Scrutiny as UBS Forbids Chats Among Firms

Messages between traders in a commodities chat room last week ranged from the dating habits of Kim Kardashian’s mother to West African pirates plundering oil and gas reserves to a riddle.

“What did the pirate say when he found out he was long WTI-Brent?” one user, identified only by number, asked in an Instant Bloomberg chat room Nov. 18, referring to the price gap between U.S. and international oil prices. “ARRRRGHBITRAGE THIS” came the punchline.