Scales of Justice

A former Tullett Prebon broker appeared for the first time in front of a London court to answer to criminal charges over conspiring to manipulate one of the world's important interbank lending rates- Libor.

Noel Cryan, 48, appeared in front of Westminster Magistrates Court and spoke only to confirm his name and address and did not enter a plea to the charge.

His case has been transferred to Southwark Crown Court.

His next court appearance will be on 5 December.

Cryan is the 13th defendant in Britain to answer to charges related to Libor fixing.

Libor valuations directly influence the value of trillions of dollars of financial deals between banks and other institutions.

The benchmark reference rates are used in euro, US dollar and British sterling over-the-counter interest rate derivatives contracts and exchange-traded interest rate contracts.