Ex-UBS trader aims to dismiss CFTC “spoofing” case against him
Andre Flotron insists that he engaged in entirely lawful and legitimate trading practices – entering orders and then subsequently filling or cancelling orders.
Institutional FX
Extradition procedure weighs on CFTC action against Australian trader accused of spoofing
Jiongsheng (“Jim”) Zhao is currently in police custody in Australia, and is awaiting extradition to the United States.
Lucid Markets LLP to close due to losses
The members of the partnership have decided to sell their exchange memberships and to wind down the business.
FXCM UK Merger Ltd named designated member of Lucid Markets LLP
The member list of Lucid Markets has been reshuffled, with a dozen of appointments terminated.
Plaintiffs in Forex benchmark rate fixing case oppose DOJ’s request for another stay extension
The plaintiffs fail to understand how their deposition taking would interfere with the DOJ investigations.
Alpari (US) has to arbitrate “last look” case against RBS, BNP Paribas, Credit Suisse
Judge Lorna G. Schofield of the New York Southern District Court agreed with the banks that the case must be arbitrated.
DOJ wants to extend stay of Forex benchmark rate fixing case against major banks
In yet another move to affect the proceedings against financial giants like HSBC, Citi and JPMorgan, the DOJ wants a five-month extension of the stay of the case.
Commonwealth Director of Public Prosecutions charges ANZ, Citi and Deutsche Bank with criminal cartel offences
The charges involve alleged cartel arrangements relating to trading in ANZ shares held by Deutsche Bank and Citigroup.
Criminal cartel charges set to be laid against ANZ, Deutsche Bank, Citigroup Global Markets Australia
The criminal cartel charges are expected to be laid by the Commonwealth Director of Public Prosecutions.
US govt not to take evidence from ex-British Bankers’ Association employee in LIBOR-rigging case
The US Government changes its mind again as to whether to depose former BBA employee Sally Scutt.
GAIN Capital announces $100m sale of GTX ECN business to Deutsche Börse
The transaction is expected to result in proceeds of approximately $85 million for GAIN, net of taxes and transaction-related expenses and fees.
Ex-Deutsche Bank trader fails to dismiss indictment against him in LIBOR manipulation case
Judge Colleen McMahon of the New York Southern District Court did not find any violation of Gavin Campbell Black’s Fifth Amendment rights.
CFTC says settlement with ex-UBS precious metals trader is unlikely
The US regulator and Andre Flotron agree that settlement is unlikely at this time.
Australian trader accused of spoofing consents to extradition to the United States
Even with the consent of Jiongsheng (“Jim”) Zhao, before his extradition can occur, the Australian Attorney General must authorize and sign a surrender order that formally authorises the extradition.
NY Court adjourns trial of ex-Deutsche Bank traders until September
The Court has found that the defendants, accused of LIBOR manipulation, need extra time to prepare their defense.
Former Deutsche Bank traders accused of LIBOR manipulation may have trial postponed
Judge Colleen McMahon offers Matthew Connolly and Gavin Campbell Black to give them more time to prepare their defense.
FastMatch contributes €5.2m to Euronext’s revenues in Q1 2018
Spot FX trading generated €5.2 million of revenue in the first quarter of 2018, the report shows.
DOJ does not oppose ex-Deutsche Bank trader’s attempt to detach himself from LIBOR-rigging conspiracy
The wire fraud charges, however, will not be affected by evidence that Matthew Connolly withdrew from the alleged conspiracy when he left Deutsche Bank in March 2008.
NY Court refuses to dismiss market manipulation case against FX Cartel
Judge Richard M. Berman has found that Christopher Ashton, Rohan Ramchandani, and Richard Usher had notice or fair warning that their conduct was criminal.
