LeapRate

March 16, 2014 BY Gerald Segal

Hitting them where it hurts – big banks withhold bonuses for forex traders

Barclays, Citi and RBS have frozen bonuses across their FX trading teams, pending outcome of 4pm fix investigations. Temporary suspensions are one thing, but if you really want to hurt traders, take away their bonuses.... The Financial Times has reported that several leading global banks including Barclays (NYSE:BCS), Citi (NYSE:C) and Royal Bank of Scotland…

March 04, 2014 BY Gerald Segal

Electronic dealing fast replacing ‘faulty’ forex dealers at major banks

Regulatory action risks to squeeze big banks' profit margins from FX, but bringing increased transparency and likely more volumes A report in Monday’s edition of the Financial Times outlines an accelerating shift that is occurring within the FX markets industry during the past couple of months. Yes, we are talking about electronic dealing finally arriving…

February 20, 2014 BY Gerald Segal

More forex trader suspensions, this time at RBS

FCA unlikely to go public with its investigation findings before 2015 The Royal Bank of Scotland has announced the suspension of yet another forex trader and unsurprisingly, it is most likely related to the ongoing 4 pm fix investigation. The FX fixings scandal that has engulfed the forex market in recent months is taking another…

February 13, 2014 BY Gerald Segal

Fresh forex manipulation class action lawsuit seeks up to $10 billion in damages

Research by Fideres has encompassed price action around the London fix in 6 major dollar crosses The Financial Times reports that the first class action lawsuit against several banks for manipulating forex rates has been filed in the US. Amongst the banks mentioned in the suit are Barclays and UBS and the evidence supplied includes…

February 10, 2014 BY Gerald Segal

Big banks face both criminal charges and civil lawsuits over 4pm fix currency probe

FCA hints that criminal charges are coming; Asset Managers launching lawsuits. So far, the major fallout of the investigations launched by several national financial regulators into the rigging of the global currency market -- specifically into the way the daily 4pm cross currency fix is set -- has been limited to some bad press for…

Tag: 4pm fix investigation

Hitting them where it hurts – big banks withhold bonuses for forex traders

Electronic dealing fast replacing ‘faulty’ forex dealers at major banks

More forex trader suspensions, this time at RBS

Fresh forex manipulation class action lawsuit seeks up to $10 billion in damages

Big banks face both criminal charges and civil lawsuits over 4pm fix currency probe

Wedbush Supports 24-Hour US Equity Trading For Correspondent Clients

HKEX Appoints Chief Sustainability and Group Chief Communications Officer

SEC Chair Gary Gensler to Step Down on 20 January

IC Markets Global and World Table Tennis (WTT) Renew Partnership

CMC Markets Posts Pre-Tax Profit, Jump in Net Operating Income