Day: June 12, 2013

And Another Thing…

As someone who has been a regular critic of the benchmark fixings, especially the 4PM London fix, readers may be expecting a resounding “hear, hear” following the Bloomberg report on “manipulation” of exchange rates. Well, sorry to disappoint you, but… My problem has long been with the process, not just of the 4PM fix but […]

September Launch for CME Europe

CME Group will launch its new London-based derivatives exchange, CME Europe, on 9th September, subject to regulatory approval. Created to expand and enhance CME’s client offering, the new exchange will initially offer trading in foreign exchange futures products as it acts as a competitive alternative to other exchanges in the region. The firm says that […]

FX Market Hit with “Manipulation” Claims

Traders at some of the largest global banks have manipulated the benchmark foreign exchange rates used to set the value of investments, say five senior dealers, according a Bloomberg News report. The traders have allegedly been front-running client orders and subsequently rigging the WM/Reuters rates by submitting trades before, and after, the 60-second trading windows […]