U.S., British and Swiss regulators fine five banks for their conduct on FX markets (FX Cartel)

The Foreign Exchange (“FX”) market is the largest financial market in the world, with a daily average turnover of $5.3 trillion, 40% of which takes place in London. An important part of the FX market derives from the financial activities of investment vehicles seeking to protect themselves from unwanted movements in the FX market by hedging their positions through FX‐based derivatives and repatriate global currency holdings through FX spot trading. Currency benchmark rates FX transactions are most frequently

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Laurent Geelhand, Anthony Maton, U.S., British and Swiss regulators fine five banks for their conduct on FX markets (FX Cartel), 12 November 2014, e-Competitions Bulletin November 2014, Art. N° 70358

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