Devised Biggest Market's Rates". "Citi's European spot forex head trader Ramchandani out amid probe". "OCC Fines Three Banks 950 Million for FX Trading Improprieties".
Germanys troubled Deutsche Bank has hit the headlines once again.
This time for erroneously transferring 6 billion to a hedge.
In June, the banks two co-CEO Anshu Jain and Juergen Fitschen stepped down due to missing profit targets.
The central players in the Deutsche Bank money laundering scandal, which gained media attention in late 2016 include.
Mirror trading is an automated forex strategy that allows investors to imitate international forex trading behaviours and make trading decisions that.
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The multi-billion dollar mistake was reportedly made by a junior member of the foreign exchange team while his boss was away on holiday. Barclays, Citigroup, and JPMorgan Chase all suspended or placed on leave senior currency traders. "UBS bears brunt of forex rigging fines - SWI ". Regulators are particularly focusing in on one small exclusive chatroom which was variously called The Cartel or The Mafia. Larger corporations that have purchased FX products based on the WM/Reuters benchmark rates may well have been affected. "Consent Order for Civil Money Penalty" (PDF). According to the Financial Times, the trader processed a gross value instead of net figure. 13 Reuters reported hundreds of traders around the world could be implicated in the scandal.
"FCA Final Notice 2014: JPMorgan Chase Bank.A." United Kingdom Financial Conduct Authority. At Kantox our business model aims to robustly decentralise the foreign exchange market away from the dominance of a select number of big banks through company-to-company currency exchange. Retrieved 18 September 2015. The electronic chatrooms had names such as "The Cartel "The Bandits Club "One Team, One Dream" and "The Mafia". Germanys biggest lender was fined a record.5 billion in May for its role in the Libor manipulation. Freifeld, Karen; Slater, Steve Bart, Katharina.