The Bigger the Lie
Let’s look for a minute at the very brief retraction statement which the LBMA released on 10 May admitting to the 3300 tonne ‘error’. To recap:
“
A data submission error led to the publication of an incorrect aggregate figure for the total silver held in London vaults in March. The corrected figure is 1,143,194 Troy ounces (‘000s).
So it was ‘
a data submission error’. The question then is, a data error submitted by who? There are only 6 vault operators in the LBMA London vault network. These are JP Morgan, HSBC, Brinks, Malca Amit, ICBC Standard, and Loomis. Why does the LBMA not clarify which vault submitter submitted the claimed erroneous data? The LBMA runs a ‘Vault Managers Working Group‘ so should be intimately acquainted with the 6 heads of vault management at the respective vaults.
Baton Hires FX Market Expert Aaron Ayusa As Director Of Client Success Date
17/03/2021
Baton Systems, a provider of post-trade systems for capital markets, has appointed Aaron Ayusa as Director of Client Success. In this role, he will work closely with customers to help solve FX-related issues and develop bespoke FX products. He will report directly to Baton’s Head of Business Development, Tucker Dona.
Based in New York, Aaron has over a decade of experience in the FX space, both in settlements and automation. Before joining Baton, Aaron spent ten years at Credit Suisse, where he was most recently AVP, Cash Products and Metrics Analysis, and oversaw various global FX initiatives and process improvements through robotics and technology. Prior to this, Aaron held roles as a senior analyst for prime swaps and senior analyst for FX operations. He has also represented Credit Suisse on various industry forums and working groups, including the FX Operations Managers Worki