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Temat: Forex manipulation: How it worked
Forex manipulation: How it workedMarch 11, 2014
The investigation into alleged manipulation of the foreign exchange market now takes in most of the world’s biggest banks, regulators in three continents, potentially hundreds of traders – and now the U.K’s central bank.
Here’s a look at the key issues involved:
The ‘fix’
Every day, a handful of the world’s biggest banks agree a currency “fix” – an agreed price at which that currency traded during the day. At the center of the probe seems to be traders eager to make a quick profit by buying up currencies just before they knew clients were going to buy large amounts of the same currency at the daily “fix”. This way the traders could sell on at a profit when the price rose at the “fix.”
Some also appear to have passed on information to traders at other companies about big upcoming trades. All of this could have artificially raised the value of one currency against another.
Source: HITC. http://compliancex.com/forex-manipulation-how-it-worke...