Libor-Rigging Trial Starts in U.S. for Ex-Deutsche Bank Traders

Two former Deutsche Bank AG traders are defending themselves in a New York court this week against charges they conspired to manipulate Libor, a benchmark for interest rates, more than seven years after the start of a global crackdown on the practice.

Jury selection began Monday in the trial of Matthew Connolly, 48, who supervised trading of U.S. dollar Libor-based derivatives from New York, and Gavin C. Black, 53, who was on the money-market derivatives desk in London.