• markzuckerbergoffice


    Facebook Not As Safe A Place To Discuss Rate Rigging As Previously Thought

    Foreign-exchange traders’ messages on Facebook Inc. are being sought by European Union antitrust regulators as they expand a probe into alleged collusion between banks beyond work e-mails and instant messages, two people with knowledge of the case said. Banks have been asked to supply all communications between traders, including social media, said three people who […]

    / Oct 27, 2014 at 3:04 PM
  • ubsbirthdaygifts


    UBS Tells Three FX Traders To Take Five

    …while the firm tries to figure out if the trio engaged in any currency rigging.

    / Mar 26, 2014 at 4:03 PM
  • Really, the question is: why *not* Bob Diamond here?


    Everybody Always Manipulated Everything, Basically

    When I was growing up the phrase “market manipulation” really meant something. To be a “market manipulator” in the grand style you needed to corner a market, or pump and dump, or organize a bear raid, or do some other cigar-chompy mustache-twirly 1920s-y thing, I don’t know, it was never really my thing. But there […]

    / Jun 12, 2013 at 8:45 AM
  • News

    Bank Of New York Didn’t Mean For You To Take Things Like “Best Available Price” Literally

    You may recall that the New York attorney general is suing Bank of New York Mellon for maybe ripping off its FX customers a little bit by doing things like telling them that they would get the “best price” of the day on transactions and then actually giving them the “worst price,” which you could […]

    / Dec 14, 2011 at 6:42 PM
  • News

    In Which BoNY Mellon Maybe Understands Derivatives A Little Too Well

    Bank of New York Mellon is back in the news for offering a special promotion to its valued FX customers: if you act now, instead of screwing you with the worst possible price for your FX trades, they will not do that. OWS is working! The thing about that is … well, wait, let’s start […]

    / Nov 9, 2011 at 5:11 PM
  • News

    Wait, Sorry, Bank Of New York Thought You Wanted To Buy High And Sell Low, Was That Wrong?

    The last few weeks have provided some good examples of the trend toward unbundling products and making hidden fees explicit – with mostly pretty angry results from customers and shareholders. Meanwhile, in another part of town, Bank of New York Mellon has been operating what seems like a pretty shady hidden fee setup, and that’s […]

    / Oct 5, 2011 at 6:18 PM
  • Hedge Funds, News

    Bill Ackman’s Big Secret Trade is GOLD!!!

    No, not really, the new moneymaker is buying calls on the Hong Kong dollar, betting on Hong Kong abandoning its peg to USD. Regular recipients of Ackman’s unsolicited advice (e.g. anyone he’s set up with a personal trainer or wife), and those who read the comments here, may have already known that. Hedge Fund Investor […]

    / Sep 14, 2011 at 2:43 PM

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