Benchmark: Facts, Important Facts

Both daily reference rates are definite by the median rate of dealings in a 60 second window either side of 4pm as well as 1. 15pm conformably and are broadly used as rating norms as well as level prices for another foreign exchange transactions. The FCA and CFTC have found that merchants at a lot of banks shared secret customer order data and commerce positions, altered enterprise positions to provide banks" collective interests, and agreed on business strategies to attempt to regulate certain Fx bench mark rates. This included manipulating fix rates to trigger consumer 'stop loss" orders for the banks" benefit; for standard, where a bank tradings currency to the client under the generated give up loss order at a higher level than this had been able to buy that currency, producing a revenue for the bank (and possibly financial deficit for the client).




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