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Articles tagged by TFS-Icap

A New Twist On An Old Investigation? FX Options Brokers Still Under Scrutiny In November last year Profit & Loss reported on an investigation by New York Attorney General Eric Schneiderman into practices and conduct on the FX options desks of three major inter-dealer brokers. Now, according to a report, that investigation is not only ongoing, but it has broadened beyond the original "spoofing" or "flying" of fake bids and offers, into a look at the what may be the inappropriate sharing of market information and the rigging or influencing of market auctions.
CFTC Charges TFS Icap Over FX Options Broking Practices The US Commodity Futures Trading Commission (CFTC) has charged interdealer broker TFS-Icap with fraud and supervision failures. In a Complaint filed in the US District Court for the Southern District of New York, the CFTC alleges that, from approximately 2008 through 2015, brokers at TFS-Icap offices in the US and the UK routinely attempted to deceive – and did deceive – their clients by engaging in the practices of communicating to them fake bids and offers and fake trades in the FX options market.
And Finally... I guess we’ll get this out of the way early – I am pretty sure I have dealt on a fake price at more than one stage in my career. I don't think I did it that much in the ...