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Glen point fraud verdict signals white-knuckle trades are fading

But such traders are already increasingly scarce, with many macro funds, which bet on economic trends across a wide range of assets, relying more on algorithms and quantitative strategies than white-knuckle bets.

Rand manipulation: SA-born trader found guilty of forex fraud in New York

Glen Point Capital's Neil Phillips found guilty of FX fraud

The former hedge fund manager has been convicted of directing $725m in trades to intentionally raise the value of the rand against the US dollar in December 2017.

Glen Point Capital's Neil Phillips found guilty of foreign exchange fraud, faces 10 years in prison

The former hedge fund executive faces a maximum of 10 years in prison but will have to wait until March 14 to hear his sentence.

Foreign exchange trading: Morgan Stanley FX head testifies in court that bank restricts barrier trades

The investment bank does not permit spot trades intended to move the underlying rate or to trigger a barrier rate.