The Fall of Barings

In 1992 Nick Leeson was appointed general manager, head trader and unofficial head of the back office at Singapore-based Barings Securities (BSS). Leeson oversaw the firm's futures markets operations while retaining responsibility for two main trading functions: trading futures and options for clients or other firms within Barings, and arbitraging price differences between Nikkei futures traded on the SIMEX and Japan's Osaka exchange. Next Back to rogue trading homepage