The British banker on trial in the US on charges he schemed to front-run a $3.5bn currency deal “threw his client under a bus to make more and more money”, prosecutors argued.
Regulators ordered Citi to pay $550,000 for failing to report necessary identifying information for swap trades.
The euro slipped to a one-month low on after its worst day so far this year, as investors worried that months of coalition talks in Germany could weigh on the economy and would make closer euro zone integration difficult.
Sterling hit a 10-week high against the euro, as worries over a period of political uncertainty in Germany following elections on Sunday continued to drag the single currency lower.
Sticking with some popular Brexit trades since the EU vote has proved painful.
The dollar climbed against most other currencies, rising to a one-month high against the euro as traders continued to digest the German election and looked ahead to a speech on monetary policy from Federal Reserve Chairwoman Janet Yellen.
In a recent survey by Profit & Loss, 29% of respondents cited balance sheet strength as the most important factor when selecting a prime service provider.
Leaving the EU will mean redrafting the contracts one-by-one – or getting EU legislation to protect the deals.
Managers lured by soaring value of bitcoin and other cryptocurrencies.
Agency now struggling to manage data would be able to see firms’ trading activities in real time – but plan would have to survive procurement process.
Wall Street brokerages are quietly lobbying regulators to ensure new European rules that will upend banks’ investment research operations don’t spread to America.
Criminal hackers gained access to the Securities and Exchange Commission’s online corporate filing system in 2016 by exploiting “a defect in custom software,” SEC Chairman Jay Clayton plans to tell the Senate Banking Committee.
A panel of US regulators decided after meeting on Friday to stick with its existing policy for stricter rules on a handful of large financial institutions it deems “systemically important.”
Japan’s financial watchdog will soon pay very close attention to the internal systems of exchanges for virtual currencies such as bitcoin.
FastMatch has launched a consolidated tape for FX in a bid to bring more transparency to the market.
Portfolios that include managed futures funds perform better and reduce more risk than those without them, according to research jointly published by the Alternative Investment Management Association (AIMA) and Societe Generale.
Barclays has become the latest major financial institution to join the foreign exchange-focused blockchain consortium founded by cash settlement system provider CLS Group.
CME, ICE and DTCC oppose duty to reach out to non-reporting party for data verification.
China’s yuan rebounded against the dollar, clawing back losses from the previous session as market participants grew wary of regulators’ tolerance for recent selling after the currency breached a key level.
Among haven currencies, the Swiss franc is 0.2 per cent weaker at SFr0.9687 per dollar, while Japan’s yen is 0.1 per cent stronger at ¥111.60 per dollar.