Banks Likely to Trim Their Customer Bases

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Banks Likely to Trim Their Customer Bases – Profit & Loss (subscription)
The capital available to bank FX businesses is much reduced compared to a short time ago; the impact of the Fix fiasco is seeing more players pull back from proprietary risk taking and pushing more towards an agency model; the lessons of the SNB event are still being absorbed; and then there is the “hot” topic of last look being openly debated around FEMR and, possibly, by certain regulatory agencies. All of this is likely to lead to several players doing what some institutions did years ago, and trim their customer bases.
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RBS Suspends Two Forex Traders Over ‘Currency Rigging’

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RBS Suspends Two Forex Traders Over ‘Currency Rigging’ – The Times(subscription)
Royal Bank of Scotland has suspended two more foreign exchange traders in London on suspicion of market manipulation as part of an investigation into currency rigging by American regulators.

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FXPA Elects Board of Directors, Officers; Announces Founding Council Members

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FXPA Elects Board of Directors, Officers; Announces Founding Council Members – Profit & Loss (free story)
The Foreign Exchange Professionals Association (FXPA), a Washington-based organisation that represents the collective interests of professional FX industry participants, has announced its 12-member board of directors and officers following elections on 10 February.

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