CFTC Issues $11.6m Fine for FX Fraud Scheme
Top Headlines
CFTC Issues $11.6m Fine for FX Fraud Scheme – Profit & Loss
The US Commodity Futures Trading Commission (CFTC) has issued an $11.6 million fine in response to a FX fraud scheme. Read More
Second Barclays Trader Loses Unfair Dismissal Case
Top Headlines
Second Barclays Trader Loses Unfair Dismissal Case – Profit & Loss
Mark Clark has become the second former Barclays FX trader to lose a claim for unfair dismissal in a UK employment tribunal.
As Big Banks’ FX Case Ends, Judge Urges Probe of Traders
Top Headlines
As Big Banks’ FX Case Ends, Judge Urges Probe of Traders – Bloomberg
A federal judge urged US authorities to pursue prosecutions against individuals as part of their investigation into the manipulation of currency markets as he accepted penalties against four of the world’s largest banks. Read More
Ex-Barclays Trader Pleads Guilty in US in Forex Probe
Top Headlines
Ex-Barclays Trader Pleads Guilty in US in Forex Probe – Reuters
A former Barclays trader pleaded guilty to US charges arising from a global investigation into the manipulation of foreign-exchange prices at major banks, the US Department of Justice said.
Massad Officially Resigns as CFTC Chair
Top Headlines
Massad Officially Resigns as CFTC Chair – Profit & Loss
Timothy Massad has tendered his resignation as Chairman of the US Commodity Trading Commission (CFTC) to President Barack Obama, effective on January 20, 2017. Read More
Markets Start 2017 on Bright Note
Top Headlines
Markets Start 2017 on Bright Note – Financial Times (subscription)
Markets are in an upbeat mood for the first session of 2017, looking to revive the post-US election rally that took Wall Street and London stocks to record levels and forced government bond yields to multi-month peaks toward the end of last year.
Tullett Completes $1.6 Billion Deal for Icap Brokers
Top Headlines
Tullett Completes $1.6 Billion Deal for Icap Brokers – Bloomberg
Tullett Prebon has completed the 1.28-billion-pound ($1.6 billion) purchase of the voice-broker business of its former rival Icap, creating a dominant firm in the business of matching trades between banks.
China Changes CFETS Currency Basket for Calculating Yuan Index
Top Headlines
China Changes CFETS Currency Basket for Calculating Yuan Index – Reuters
China will change the way it calculates a key yuan index in the new year, nearly doubling the number of foreign currencies in a basket that is used to set the yuan’s value, its foreign exchange market operator said. Read More
No Happy New Year in China as Currency, Liquidity Fears Loom
Top Headlines
No Happy New Year in China as Currency, Liquidity Fears Loom – Bloomberg
The first day of 2017 is when an annual $50,000 quota to convert the yuan into foreign exchange resets, stoking concern there will be a rush to sell the local currency. Read More
Malaysia’s Central Bank Takes Action Against Firm Over Ringgit Trade
Top Headlines
Malaysia’s Central Bank Takes Action Against Firm Over Ringgit Trade – Reuters
Bank Negara Malaysia said it was taking action against an unnamed financial institution for failing to promptly notify the central bank of its dealers’ misconduct involving the fixing of the dollar-ringgit exchange rate. Read More