The trade was completed ahead of the upcoming discounting and Price Alignment Interest transition to USD SOFR at LCH SwapAgent. LCH SwapAgent, a service for the non-cleared derivatives market, today announces that it has registered its first SONIA/SOFR cross-currency basis swap. The GBP/USD basis swap was executed between LCH SwapAgent members Bank of America and Lloyds

After a two-week trial, James Vorley and Cedric Chanu were convicted of three counts and seven counts, respectively, of wire fraud affecting a financial institution. A Chicago federal jury has found two former employees of Deutsche Bank guilty of fraud charges for their respective roles in fraudulent and manipulative trading practices involving publicly-traded precious metals futures

Because the district court tethered Matthew Connolly’s sentence to Gavin Black’s sentence, both sentences should be vacated and remanded for reconsideration, the US authorities argue. It has been almost a year since the United States Government filed notices of appeal from the sentences of ex-Deutsche Bank traders Matthew Connolly and Gavin Black convicted of LIBOR

As a result of this new service to be in place by the final quarter of 2020, thinkFolio clients will be able to access EBSI’s execution functionality. Provider of electronic trading platforms and technology services in FX markets EBS today announced the connectivity between its EBS Institutional (EBSI) execution management system and thinkFolio, a leading

Akshay Aiyer will also have to pay $150,000 criminal fine for his participation in an antitrust conspiracy to manipulate prices in the global FX market. Akshay Aiyer, a former currency trader at JPMorgan, was sentenced on September 17, 2020, to serve eight months in jail and ordered to pay a $150,000 criminal fine for his participation

It is increasingly challenging to ensure a genuinely level playing field in markets where even small differences in the speed of access to market-sensitive information can be significant, BoE warns. The Bank of England (BoE) today published its response to the report on the misuse of the Bank of England’s press conferences audio feed. In December

Set to be launched in mid-2021, the new FX trading and pricing engine will be Barclays’ fourth electronic FX trading hub globally. Barclays is poised to deploy its latest FX trading and pricing engine in Singapore, under the Monetary Authority of Singapore’s (MAS) FX Trading Hub strategy. This marks Barclays’ latest milestone as it continues

Akshay Aiyer, convicted for his participation in an antitrust conspiracy to manipulate prices for emerging market currencies in the Forex market, deserves a sentence of imprisonment of between 37–46 months, the US authorities argue. The United States Department of Justice (DOJ) has opposed a request by Akshay Aiyer, former currency trader at JPMorgan convicted for

Judge Lorna Schofield says it was not proper for the plaintiffs to serve interrogatories on HSBC Holdings plc. There have been some developments regarding a recent discovery dispute in a Forex benchmark rate fixing case targeting some of the world’s biggest banks, such as JPMorgan, Citi, Barclays, UBS and HSBC. Shortly after it became clear

This tool takes the extensive price data that is already functionally equivalent to OTC options and creates a volatility grid by tenor and deltas for comparison purposes. International derivatives marketplace CME Group Inc (NASDAQ:CME) today announced the launch of a new FX Options Vol Converter tool. At a time when market participants are looking for