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Barclays Facing Further FX Lawsuit

04:33 November 30th 2015 in News, Banks

Barclays Facing Further FX Lawsuit

Barclay’s FX business’ woes have continued with a US-based fund bringing a class action lawsuit against the bank over its use of last look. The bank was fined $150 million earlier this month over its use of the controversial practice. ...
Banks Face Swaps-Related Lawsuit

08:20 November 27th 2015 in News, Banks

Banks Face Swaps-Related Lawsuit

A group of banks and two trading platforms have been named in a class action lawsuit claiming unfair practices in the interest rate swaps market. The class action lawsuit was filed Wednesday by The Public School Teachers' Pension and Retirement ...
2016 The Year of The Yen – JP Morgan

08:45 November 26th 2015 in News, Banks

2016 The Year of The Yen – JP Morgan

JP Morgan (JPM) has released its 2016 currency forecasts and among the majors, the bank’s analysts pick the Japanese yen (JPY) as the star-turn for next year, with fundamentals and politics providing supportive pillars for the Japanese currency. The bank ...
Listorti Steps in at ANZ

08:58 November 25th 2015 in News, Banks

Listorti Steps in at ANZ

As reported last week by Profit & Loss, Eddie Listorti has been appointed acting managing director global markets following the resignation of Steve Bellotti. ANZ says Listorti, whose appointment is effective immediately, reports to CEO international and institutional banking Andrew Gé...
Citi wins Lawsuit against Tormar

05:15 November 23rd 2015 in News, Banks

Citi wins Lawsuit against Tormar

A New York court has ruled in favour of Citi in its dispute with joint family office and global macro-oriented trading firm, Tormar Associates over the events of January 15 in the Swiss franc. J. Paul Oetken, district judge in the ...
Incomplete Investigation Helped Stimpson Win Case The written judgement in the case of Perry Stimpson and Citi finds that the claimant was dismissed but generally speaking on a technicality, with the judge finding that the bank’s own investigation into the matter were not thorough enough ...
BIS Trading Book Interim Impact Analysis The Basel Committee on Banking Supervision has published the results of its interim impact analysis of its fundamental review of the trading book, assessing the impact of proposed revisions to the market risk framework set out in two consultative documents ...
Long Dollar Trade is “Crowded”

10:38 November 18th 2015 in News, Banks

Long Dollar Trade is “Crowded”

The most vulnerable tactical trade heading into the December Fed hike is ‘long dollar’, and associated positioning, according to Bank of America Merrill Lynch’s (BAML) November Fund Manager Survey (FMS). The survey shows that long USD is the most ...
Barclays, Deutsche to Settle New FX Fines? Barclays and Deutsche are facing fresh misconduct claims in FX markets. Barclays is set to pay $150 million to settle claims from the New York Department of Financial Services (DFS) that it acted improperly on its BARX electronic trading platform. The ...
SFO Charges Ten People with Euribor Manipulation The UK's Serious Fraud Office (SFO) has issued the first criminal proceedings against 10 individuals accused of manipulating the Euro Interbank Offered Rate (Euribor). The individuals, six from Deutsche Bank and four from Barclays Bank, will be charged with conspiracy to ...