By: Bob Van Voris, Lananh Nguyen and Chris Dolmetsch – Bloomberg News
Published on: October 26, 2018
Bloomberg’s article from October 26th, 2018 entitled “British Cartel Traders Acquitted of Rigging Currency Market” is very interesting for those following the case of currency manipulation by the major banks over the last decade. It is notable 3 traders were acquitted as a Jury rejected claims they misused chatrooms to fix FX prices. This will further the debate about FX trading practices and in our view further highlights the benefits of FX Rate Integrity ®.
It is notable the article stated the following: “this is a signal to all FX traders that they can go back to business as usual,” Mayra Valladeres, a former FX analyst for the NY Fed, said of the acquittal. “Not holding traders who manipulate rates accountable devalues the integrity of the FX Market.” – Bob Blades
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