Search Results for: traders
UBS Gave Out ‘Instruction Manual on Fixing Libor,’ Hayes Said
June 19th, 2015
Thomas Hayes, a former trader on trial over charges he manipulated benchmark rates, told prosecutors in 2013 that UBS Group AG distributed “an instruction manual on fixing Libor” to suit their trading positions. The Swiss bank’s e-mailed “Guide to ...
Banks’ Civil Forex Settlements Near $2 Billion
June 18th, 2015
Barclays, BNP Paribas, Goldman Sachs and HSBC recently signed agreements to settle case The total amount paid by banks to settle a civil lawsuit tied to allegations traders manipulated the currency market has now reached almost $2 billion following ...
Buy side should double down on scaling R&D investments
June 17th, 2015
To address declining return on investment, buy side needs to speed up the process of testing and disqualifying unworkable strategies, while allowing more resources to be invested in benchmarking and scaling up the most promising systems, according to a ...
Libor Brokers Called Hayes Berating ‘Very Upsetting’ in Messages
June 17th, 2015
Thomas Hayes, the former UBS Group AG and Citigroup Inc., trader accused of rigging Libor, berated brokers and colleagues when things didn’t go his way, according to messages shown to jurors by prosecutors. Hayes communicated daily with interdealer brokers, ...
S.Korea reviewing whether global banks in FX probe affected Korea
June 17th, 2015
South Korea’s anti-trust agency chief said on Wednesday the agency is looking into whether the activities of six global banks that were recently fined nearly $6 billion in a U.S. and European forex probe had affected South Korean companies. ...
EU Bank-Separation Bill Sets $112 Billion Trading Mark
June 16th, 2015
Banks with annual trading activities of more than 100 billion euros ($112 billion) would face added scrutiny from supervisors armed with a tool box of capital rules and separation powers in a draft European Union law. Envoys from the ...
Swiss Trader to Pay $2.8 Million to Settle Insider Trading Charges
June 16th, 2015
The Securities and Exchange Commission announced that a Swiss trader has agreed to pay more than $2.8 million to settle charges that he traded on nonpublic information ahead of a Florida-based biometrics company’s acquisition by Apple Inc. A SEC investigation ...
Advanced Markets Teams with Fortex in Joint Venture
June 15th, 2015
FAM Clearing, LLC to Deliver Prime-of-Prime Service and End-to-End Trading Technologies to FX Market Lacking Access to Bank Prime Services Advanced Markets, a wholesale provider of liquidity, technology, and credit solutions to banks and brokers and Fortex, Inc., a leading ...
Ex-Deutsche Bank Trader Said to Sue U.K. FCA in Identity Spat
June 12th, 2015
Joerg Vogt, a former trading executive at Deutsche Bank AG, sued the U.K. financial regulator for indirectly identifying him in its Libor settlement with the bank, a person with knowledge of the case said. Vogt, the bank’s former director ...
Aequitas Curbing Predatory Trading Through Innovative Technology
June 10th, 2015
First Customer Goes Live with Aequitas Smart Order Router BBS Securities Inc. (BBS) has become the first dealer to utilize the Smart Order Router (SOR) offered by Aequitas Technology Services Inc. (Aequitas), a subsidiary of Aequitas Innovations Inc. By ...
