Posts Tagged ‘foreign’

SFO Investigates Price Rigging in Forex Market

by Forex Rooton July 22, 2014 12:07 pm BST
The Serious Fraud Office (SFO) has launched a criminal investigation into allegations of price rigging in the £3tn-a-day foreign exchange market. The probe will look into allegations of “fraudulent conduct”, the director of the SFO said in a statement. Around 15 international agencies are investigating allegations of collusion and price manipulation. It is alleged that […]

FSB Weighs Wider Window for Foreign-Exchange Benchmarks

by Forex Rooton July 15, 2014 3:18 pm BST
Global regulators published details of their plans to overhaul foreign-exchange benchmarks in response to allegations traders colluded to manipulate rates in the $5.3 trillion-a-day currency market. The Financial Stability Board proposed changes to the way the WM/Reuters rates are calculated, including extending the length of the one-minute windows on which the benchmark is based, and […]

China To Reduce Its Intervention In The FX Market

by Forex Rooton July 10, 2014 12:10 pm BST
U.S. and Chinese leaders have agreed that China will reduce its intervention in the currency market when conditions are ripe, reaching an understanding on a prickly issue that has hurt ties between the world’s two biggest economies for years. China’s Central Bank Governor Zhou Xiaochuan said on the sidelines of annual high-level talks between the […]

FX Trading Volumes Over $5 Trillion in June

by Forex Rooton July 9, 2014 7:16 pm BST
Average daily volumes in the global foreign exchange market surged by over $500 billion in June, data from FX settlement system CLS showed, suggesting a bounce-back for the world’s largest and most liquid market. The number of transactions through the system, which is used almost universally by the banking industry to process or settle trades, […]