Client confidentiality – 1990’s style…

When I was trading FX for Morgan Stanley about 20 years ago, we were doing business with a number of the larger Hedge Funds. At that time it was felt to be important that the trader knew who he was quoting when the Salesperson shouted for a price, but we were also conscious of client confidentiality. A bright spark on the Sales desk said, at the weekly meeting, that they should shout the clients name backwards. So Tiger would be “Regit” and Moore would be “Eroom” or “Nocab”. That’s a great idea, I said (with a hint of sarcasm in my voice), but what will you shout when Soros is on the phone asking for a price ? !

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