Foreign exchange spot trading cartel

16 May 2019 UK banks fined €1bn by EU for rigging foreign exchange market Group), formed two cartels to manipulate the spot foreign exchange market for 11 Vestager said most of the traders involved in the manipulation knew each  16 May 2019 Competition Commissioner Margrethe Vestager stressed that markets offering spot foreign exchange trading are some of the world's largest 

21 May 2019 At the centre of the two cartels were individual traders at the banks, in charge of FX spot trading of the affected currencies on behalf of the  7 Aug 2019 The second decision concerns the so-called Forex-Essex Express cartel, upon which the Commission imposed a total fine of €257,682,000 on  16 May 2019 The first decision (so-called “Forex - Three Way Banana Split” cartel) imposes Foreign exchange spot trading activities are one of the largest  18 Jun 2019 European Commission's Foreign Exchange Spot Trading Cartel in two cartels in the Spot Foreign Exchange market for 11 currencies that are  16 May 2019 Traders at RBS, Barclays, Citi, JPMorgan and MUFG used chat rooms to rig forex spot trading. 16 May 2019 Foreign exchange spot trading cartels manipulated the markets. The European Commission began an investigation following a tip-off from  16 May 2019 The European Commission said individual traders at the banks involved formed two cartels to manipulate the spot foreign exchange market for 

(RTTNews) - European Union regulators on Thursday fined five global banks a total of 1.07 billion euros, or $1.2 billion, for participating in foreign exchange spot trading cartels and

16 May 2019 Foreign exchange spot trading activities are one of the largest markets in the world, worth billions of euros every day," EU Commissioner  10 Jan 2017 Three Former Traders for Major Banks Indicted in Foreign Currency Exchange of G10 FX spot trading at an affiliate of Citicorp) and Christopher Ashton Called “the Cartel” or “the Mafia,” this group of traders participated in  10 Jan 2017 The prosecutors say the forex 'cartel' traders use instant messages to formerly global head of spot trading at Barclays Plc. Another member,  Among The Cartel's members were Richard Usher, a former Royal Bank of Scotland (RBS) senior trader who went to JPMorgan as head of spot foreign exchange trading in 2010, Rohan Ramchandani, Citigroup’s head of European spot trading, Matt Gardiner, who joined Standard Chartered after working at UBS and Barclays, and Chris Ashton, head of voice spot trading at Barclays.

Foreign Exchange, or “Forex”, refers to the trading of currencies. When companies exchange large amounts of a certain currency against another, they usually do so through a Forex trader. The main customers of Forex traders include asset managers, pension funds, hedge funds, major companies and other banks.

"Foreign exchange spot trading activities are one of the largest markets in the world, worth billions of euros every day," EU Competition Commissioner Margrethe Vestager said. "These cartel

8 Aug 2019 The two cartels were revealed by UBS, which was thus spared from a fine The EC's two probes revealed that some traders on the Forex spot 

On 16 May 2019, the European Commission ("Commission") has fined Barclays, The Royal Bank of Scotland (RBS), Citigroup, JPMorgan and MUFG Bank (formerly Bank of Tokyo-Mitsubishi) for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies that are the most liquid and traded currencies worldwide – the Euro, British Pound, Japanese Yen, Swiss Franc, US Dollar, Canadian Dollar, New Zealand and Australian Dollars, and Danish, Swedish and Norwegian crowns 1. Foreign Exchange, or “Forex”, refers to the trading of currencies. When companies exchange large amounts of a certain currency against another, they usually do so through a Forex trader. The main customers of Forex traders include asset managers, pension funds, hedge funds, major companies and other banks. Foreign exchange spot trading activities are one of the largest markets in the world, worth billions of euros every day," EU Commissioner Margrethe Vestager said in a press release Thursday. Foreign Exchange, or Forex, refers to the trading of currencies. When companies exchange large amounts of a certain currency against another, they usually do so through a Forex trader. The main customers of Forex traders include asset managers, pension funds, hedge funds, major companies and other banks. Foreign exchange spot trading cartels manipulated the markets The European Commission began an investigation following a tip-off from Switzerland-based UBS, which was included as an addressee of both decisions – having been involved in both cartels – but escaped a fine due to the fact it alerted authorities to their existence. The two cartels involved the Spot Foreign Exchange market for the euro, British pound, Japanese yen, Swiss franc, U.S., Canadian, New Zealand and Australian dollars, and Danish, Swedish and

17 May 2019 Foreign exchange spot trading activities are one of the largest markets J.P. Morgan and MUFG Bank and these cartel decisions send a clear 

two foreign exchange (FX) spot trading cartels between December 2007 and January 2013. This collective action seeks to recover damages on behalf of two classes of persons to compensate those affected by the cartels. If you or your business entered into FX spot and/or outright forward transactions in this The commission, which polices anti-trust issues, fined Barclays, Royal Bank of Scotland, Citigroup and JPMorgan over 811 million euros for collaborating in a foreign exchange spot trading cartel Commission fines Barclays, RBS, Citigroup, JPMorgan and MUFG €1.07 billion for participating in foreign exchange spot trading cartel: 08.04.2019: Publication of summary decision, opinion of the Advisory Committee on restrictive practices and dominant position of 05.12.2016 and 28.11.2016, The commission fined Barclays, Royal Bank of Scotland, Citigroup and JPMorgan over 811 million euros ($909 million) for collaborating in a foreign exchange spot trading cartel dubbed "Forex

By CCN: European Union regulators fine five major banks including JPMorgan – the biggest bank in the US – for taking part in spot foreign exchange (FX) trading cartels.The regulators found price fixing for all major currency areas including the US, Europe, and Australasia. In total, 11 currencies were included in the scam, including the most traded pairs for the Dollar, Euro, Pound, and (RTTNews) - European Union regulators on Thursday fined five global banks a total of 1.07 billion euros, or $1.2 billion, for participating in foreign exchange spot trading cartels and