Tag Archive: Barclays Bank
Spoofing Futures and Banging Fixes: Same Banks, Same Trading Desks
On 29 January 2018, the Commodity Futures Trading Commission (CFTC) Division of Enforcement together with the Criminal Division of the US Department of Justice and the FBI announced criminal and civil enforcement actions against 3 global investment banks and 5 traders for involvement in trade spoofing in precious metals futures contracts on the US-based Commodity Exchange (COMEX).
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Six Banks Join UBS’s “Utility Coin” Blockchain Project
Here’s a piece of news that the remaining human members of Wall Street’s FX sales and trading desks probably don’t want to hear. According to the Financial Times, six of the world’s largest banks have decided to join a blockchain project called “utility coin” that will allow banks to settle trades in securities denominated in different currencies without a money transfer.
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The Secret History Of The Banking Crisis
Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for? It is a decade since the first tremors of what would become the Great Financial Crisis began to convulse global markets. Across the world from China and South Korea, to Ukraine, Greece, Brexit Britain and Trump’s America it has shaken our economy, our society and latterly our politics.
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How The US Government Let A Giant Bank Pin A Scandal On A Former Employee
The following is an excerpt from David Enrich's nonfiction financial and legal thriller The Spider Network: The Wild Story of a Math Genius, a Gang of Backstabbing Bankers, and One of the Greatest Scams in Financial History. (Read part of the prologue here; another excerpt can be found here) This excerpt takes place shortly after the accused mastermind of the Libor scandal, Tom Hayes, is fired from his job at Citigroup, kicking government...
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Here Are The Best Hedges Against A Le Pen Victory
On Friday, after it emerged that as part of Marine Le Pen's strategic vision for France, should she win, is a return to the French franc as well as redenomination of some €1.7 billion in French (non-international law) bonds, both rating agencies and economists sounded the alarm, warning it would "amount to the largest sovereign default on record, nearly 10 times larger than the €200bn Greek debt restructuring in 2012, threatening chaos to the world...
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Credit Suisse Settles With DOJ For $5.3 Billion; Will Pay $2.5 Billion Civil Penalty
Shortly after last night's news that Deutsche Bank had settled with the DOJ for $7.2 billion, of which it would pay $3.1 billion in a civil penalty, far lower than the $14 billion number initially speculated (the stock popped as much as 4% before settling just over 2% higher currently), Credit Suisse likewise closed the books on its pre-crisis RMBS fraud when the largest Swiss bank agreed to pay $5.28 billion to resolve a U.S.
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Two More Banks Start Charging Select Clients For Holding Cash
Bank of Ireland, which is 14% owned by the State, has informed its large corporate and institutional customers that it plans to charge them a negative rate of -0.1% for deposits of €10 million or more starting in October.
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UK Imported Net 152 Tonnes of Gold in June, 68 from Switzerland
On a firmly rising gold price the UK is one of the largest net importers of gold in 2016. The gold price went up 25 % from $1,061.5 dollars per troy ounce on January 1 to $1,325.8 on June 31. Over this period the UK net imported 583 tonnes and GLD inventory mushroomed by 308 tonnes.
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As Of This Moment, Barclays Is Not Accepting FX Stop Loss Orders
Anyone wondering why gaps and volatility in FX, and especially cable is reaching on the absured today, with 100 pips swings in minutes the norm, the reason is that there is virtually no liquidity.
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Spain Sells 3x Oversubscribed 50-Year Bond
Following a scramble by European nations to issue ultra long-dated government paper, which saw France and Belgium sell 50-year bonds last month, while Ireland and Belgium went all the way and issued century bonds, with even Switzerland locking in 42-...
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Futures Ignore Apple Plunge; Oil Rises Above $45 As Yellen Looms
For those who thought that the world's biggest company losing over $40 billion in market cap in an instant on disappointing Apple earnings, would have been sufficient to put a dent in US equity futures, we have some disappointing news: with just over...
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FINMA Fines UBS, All Markets are Manipulated?
Gold and Silver Are Manipulated
Deutsche Bank admitted today that it participated with other big banks in manipulating gold and silver prices.
In 2014, Switzerland’s financial regulator (FINMA) found “serious misconduct” and a “...
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More from this category
- Spoofing Futures and Banging Fixes: Same Banks, Same Trading Desks
22 Apr 2018
- Six Banks Join UBS’s “Utility Coin” Blockchain Project
3 Sep 2017
- How The US Government Let A Giant Bank Pin A Scandal On A Former Employee
12 May 2017
- Here Are The Best Hedges Against A Le Pen Victory
13 Feb 2017
- Credit Suisse Settles With DOJ For $5.3 Billion; Will Pay $2.5 Billion Civil Penalty
25 Dec 2016
- Two More Banks Start Charging Select Clients For Holding Cash
19 Aug 2016
- UK Imported Net 152 Tonnes of Gold in June, 68 from Switzerland
16 Aug 2016
- As Of This Moment, Barclays Is Not Accepting FX Stop Loss Orders
23 Jun 2016
- Spain Sells 3x Oversubscribed 50-Year Bond
11 May 2016
- Futures Ignore Apple Plunge; Oil Rises Above $45 As Yellen Looms
27 Apr 2016
- FINMA Fines UBS, All Markets are Manipulated?
14 Apr 2016