"It may not be insider trading but it is insider use of sensitive information, which gives an undue advantage, " Arjuna Mahendran of HSBC Private Bank told the BBC.

“这可能不是内幕交易而是敏感信息的内幕利用，这也给有关人员带来了不正当的利益，”汇丰私人银行的阿朱马亨德兰对BBC说。

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It also suggests a role for new marketplaces that facilitate the spot trading of insight, and deal room services that allow for private information brokering.

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The Hildebrands' trading came to light because an employee at his private bank leaked the information.

ECONOMIST: The Swiss National Bank

By 1873, brokers were leasing private telegraph lines to provide customers and, presumably, themselves with faster information and trading.

WSJ: New Twist Is Added to an Age-Old Saga