Former FX Traders Challenge Citi over Dismissal – Financial Times (subscription)
Four former Citigroup traders look set to be the first of the dozens of people fired over the FX-rigging scandal to challenge their dismissals in court. Carly McWilliams, Perry Stimpson, David Madaras and Robert Hoodless have filed unfair dismissal claims at the East London Employment Tribunal. Hearings are scheduled in the four cases between next week and November.
Banks Braced for Billions in Civil Claims over FX Rate Rigging – Financial Times (subscription)
Global banks are facing billions of pounds-worth of civil claims in London and Asia over the rigging of currency markets, following a landmark legal settlement in New York.
Why FX Platform Providers Are Targeting Corporates – Profit & Loss
Although the corporate segment has always been an attractive one to multi-bank FX platform providers, there appears to be a renewed focus on targeting this business.
Software Debate Threatens Major Fork in Bitcoin Blockchain – Profit & Loss
Two high profile developers in the Bitcoin community have released competing versions of the core software supporting the digital currency, sparking concerns that the Bitcoin blockchain could be split in two.
Treasuries Liquidity Fine in Good Times, NY Fed Research Finds – Bloomberg
It’s still easy to trade Treasuries, at least when times are good, say researchers from the Federal Reserve Bank of New York.
Sarao: Quiet Man or Criminal Mastermind? – Financial Times (subscription)
Navinder Singh Sarao has finally been released from prison after a judge agreed on Friday to reduce his bail from £5 million to £50,000. But to his US prosecutors, he remains a persistent and aggressive manipulator of the country’s biggest futures market, and someone who played a critical role in one of the most spectacular moves ever seen in its equity markets.