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Dismissed ANZ Traders Sue Bank

02:12 January 15th 2016 in News, Banks

Dismissed ANZ Traders Sue Bank

Two ANZ traders dismissed by the bank last year have filed unfair dismissal claims against the bank. According to court documents cited by the Australian Financial Review, Etienne Alexiou and Patrick O’Connor are suing the bank claiming senior Global ...
Citi and Allied Irish Settle Rusnak Claims The long running saga resulting from the activities of rogue FX trader John Rusnak that were uncovered in 2002 appears to have come to an end with news Citigroup has settled a litigation case with Allied Irish Banks (AIB). US District ...
More Central Banks Granted Access to Chinese Interbank Market… Six more central banks or similar institutions have completed registration with the China Foreign Exchange Trading System (CFETS), and officially gained access to the Chinese interbank FX market. The Reserve Bank of India, Bank of Korea, Monetary Authority of Singapore, ...
SNB Anticipating Loss for 2015

12:52 January 8th 2016 in News, Banks

SNB Anticipating Loss for 2015

The Swiss National Bank (SNB) says that it is expecting an annual loss of CHF23 billion for the 2015 financial year. According to provisional calculations, the loss on foreign currency positions amounted to CHF20 billion. A valuation loss of CHF4 billion ...
China Imposes Ban on Foreign Bank FX Activity At least three foreign banks have been ordered to suspend foreign exchange business in China. The Peoples Bank of China (PBoC) has imposed a three month ban on some foreign banks’ FX trading in a move intended to stamp out ...
Ex-SocGen Trader 11th to be Charged Over Euribor Former Societe Generale trader Stephane Esper has become the 11th trader to be charged by the UK’s Serious Fraud Office over alleged manipulation of the Euribor benchmark. In November the SFO revealed it had charged 10 other traders, from Barclays ...
FXSpotStream adds Bank of Tokyo-Mitsubishi UFJ FXSpotStream announced that Bank of Tokyo-Mitsubishi UFJ has now gone live as a liquidity provider to its price aggregation service. Bank of Tokyo-Mitsubishi UFJ is the 12th bank available to clients connected to FXSpotStream’s service. The addition of BTMU ...
ECB Attempts to Discourage Trading Against Euro FX Reference Rates The European Central Bank (ECB) plans to delay the daily publication of its euro FX reference rates in order to discourage firms from using the rate as a benchmark to trade against. The ECB announced in a press release today ...
Morgan Stanley Starts FX and FI Cut Backs According to sources, Morgan Stanley has started a round of lay-offs in its FX and fixed income departments. In fixed income, managing director and co-head of investment grade trading Isabel Mahoney and investment grade corporates rates trader Kevin Edwards are ...
Barclays Seeks to Clarify Last Look Use to Clients Barclays has sent a disclosure clarifying its use of ‘last look’ functionality out to its clients. Profit & Loss understands that Barclays began sending the disclosure to clients when it was first published on the Barx website at the start of ...