Silver Traders’ ‘STOP BUSTERS’ Seen as Rig Suit Smoking Gun
- After Deutsche Bank settled, it gave documents to plaintiffs
- If manipulation succeeds, ‘we screw other people harder’
Deutsche Bank Records Said to Show Silver Rigging Scheme
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Silver traders at UBS Group AG and Deutsche Bank AG so regularly conspired with one another to trigger stop-loss orders that they coined a name for themselves: “STOP BUSTERS,” according to court documents.
“And if u have stops...,” a UBS trader wrote in a June 8, 2011, chat detailed in recent court filings. ”Oh boy.”