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Swiss bank UBS settles currency-rigging claims for $135M
March 16th, 2015
Switzerland‘s largest bank, UBS, has agreed to pay $135 million to settle claims that it helped rig currency-exchange rates in a scheme involving some of the world’s biggest banks. The settlement announced Friday by the lead law firm in ...
EU told to apologise to Credit Agricole over market rigging probe
March 13th, 2015
The European Commission has been ordered to apologise to French banking giant Credit Agricole for implying its guilt in the long-running investigation into financial market rigging before the probe had been completed. A report published on Thursday (13 March) ...
EXNESS takes the lead with the release of audited funds and trading volumes
March 13th, 2015
EXNESS has today called on the retail Forex industry to become more transparent regarding broker funds and trading volumes, so that traders can assess the financial strength of brokers and their ability to withstand market shocks. George Tsaparillas, Director ...
Citi-linked China broker’s IPO 90 times oversubscribed in $150 bln investor rush
March 13th, 2015
Orient Securities Co‘s $1.6 billion initial public offering, the largest mainland China listing since 2011, was oversubscribed by a factor of over 90 as investors scrambled for a sale boosted by new rules capping IPO prices and soaring industry profits. Under ...
Moscow Exchange announces results for the full year 2014
March 12th, 2015
Moscow Exchange (MOEX) today announces its financial results under International Financial Reporting Standards (IFRS) for the year ended 31 December 2014. Higher volumes on the FX, Equities and Money Markets, as well as increased interest income and fees from ...
Bundesbank posts €2.95 billion profit in 2014
March 12th, 2015
The Deutsche Bundesbank posted a profit of €2.95 billion for the 2014 financial year, compared with €4.59 billion in 2013. The profit was transferred in full today to the Federal Government of Germany pursuant to section 27 number 2 of the Bundesbank Act ...
UAE set to be the first to offer green-energy sukuk
March 12th, 2015
The UAE is expected to issue the world’s first Sharia-compliant bond aimed at financing green energy projects this year, possibly as early as next month, according to industry experts. “We are going to get one, possibly two , ...
The Last, Great Run For The U.S. Dollar, The Death Of The Euro And 74 Trillion In Currency Derivatives At Risk
March 12th, 2015
Are we on the verge of an unprecedented global currency crisis? On Tuesday, the euro briefly fell below $1.07 for the first time in almost a dozen years. And the U.S. dollar continues to surge against almost every other ...
Big Banks Struggle to Pass Fed’s ‘Stress Tests’
March 12th, 2015
Bank of America must resubmit proposal to address certain weaknesses Four of the biggest names on Wall Street struggled to pass the Federal Reserve’s 2015 “stress tests,” and the U.S. units of two foreign banks fell short, underscoring the ...
EU Parliament votes for capping of interchange fees
March 11th, 2015
The European Parliament has voted for a regulation to cap interchange fees for consumer debit and credit card payments. The regulation was drafted by the European Commission and is intended to reduce fees for the usage of card payments. Both European ...
