Former UBS trader Tom Hayes has been charged by the Serious Fraud Office (SFO) in connection with its investigation into the manipulation of Libor.
Mr Hayes, 33, has been charged with eight counts of conspiracy to defraud, and will appear before Westminster Magistrates' Court.
He was arrested by police and the SFO last year alongside two other traders.
US prosecutors have already charged Mr Hayes.
"[Mr Hayes] attended Bishopsgate police station this morning where he was charged by City of London Police with eight counts of fraud," the SFO said in a statement.
Authorities in the US, Asia and the UK are racing to secure convictions for firms and individuals that they believe manipulated the key benchmark Libor rate.
The Libor rate is used to set trillions of dollars of financial contracts, including many car loans and mortgages, as well as complex financial transactions around the world.
Last year, Barclays was fined £290m ($454m) by British and US regulators for manipulation of Libor and Euribor interbank rates between 2005 and 2009.
Several other banks have also been implicated in the scandal. They were found to have colluded in fixing the Libor setting in order to boost the profits of traders prior to the financial crisis.
Individual banks were also found to have under-stated their submissions in the period during and after the crisis, in order to avoid the perception that they were having to borrow at higher interest rates than their peers and might therefore be in financial difficulty.
Source: BBC News - Business http://www.bbc.co.uk/news/world-22952843#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa