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How the ECB moved to foil the market eavesdroppers

The European Central Bank’s move to put a free satellite audio feed on its website in September now looks prescient

Who’s listening? Mario Draghi, then-president of the European Central Bank, speaks to the media following a meeting of the ECB governing board on September 12, 2019
Who’s listening? Mario Draghi, then-president of the European Central Bank, speaks to the media following a meeting of the ECB governing board on September 12, 2019 Photo: Getty Images

When the European Central Bank suspected that some companies were attempting to trade ahead of its then-president Mario Draghi’s regular press conferences, it found a way to foil them. The Bank of England, in the midst of its own eavesdropping scandal, might do well to take note.

The ECB became concerned after several organisations began advertising the sale of “accelerated ECB coverage” on their websites.

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