From Hereisthecity: “….And it's electronic messaging that
could cause problems yet again. Reuters
reports that internal reviews by banks in Singapore have found evidence that
traders colluded to manipulate rates in the offshore foreign exchange market,
according to a source with knowledge of the inquiries.
The probes found evidence showing that traders from several
banks communicated with each other over electronic messaging about what rates
they were going to submit for the local banking association's fixings for
non-deliverable foreign exchange forwards (NDFs), aiming to benefit their
trading books….
Read all about it at http://hereisthecity.com/2013/01/28/another-big-banking-scandal-on-the-way/
No comments:
Post a Comment