Icap fx options

By: Oleksiy Koval On: 14.06.2017

The investigation, by the U.

ICAP ETCLite

The interdealer brokers under scrutiny include TFS-ICAP — the foreign-exchange options joint venture between ICAP Plc and Compagnie Financiere Tradition SA — as well as Tullett Prebon Plc and New York-based BGC Partners Inc.

The investigation began more than a year ago when New York Attorney General Eric Schneiderman subpoenaed several brokers over concerns they were skewing markets by fabricating bids and offers to rustle up business in quiet periods and less widely traded currencies.

Lausanne, Switzerland-based Tradition declined to comment. The CFTC has interviewed brokers in the U. Some of the firms are also carrying out their own internal probes and have disciplined employees, the person added. Authorities around the world have been clamping down on the comparatively lightly regulated currency markets since after allegations that bank traders colluded to rig foreign-exchange rates.

icap fx options

Outside of foreign exchange, interdealer brokers have been caught up in investigations into the manipulation of interest rates and derivatives. The primary focus of the current interdealer probe is currency options, which give investors the right but not the obligation to buy or sell at a specified level.

Whatever the outcome, the timing is bad. Interdealer brokers have been struggling to reinvent themselves icap fx options a shift across forex moving average trend markets toward electronic trading and lower commissions.

To survive, the industry is shrinking and consolidating. ICAP agreed last year to sell its voice broking arm to rival Tullett Prebon for about 1. In January, BGC completed its purchase of rival GFI.

Markets Media was launched in to provide sophisticated, in-depth content spanning all sectors of the securities industry, delivered across a synergistic platform of print, online and events. From The Markets From The Markets U. Said to Probe Tullett, BGC, TFS-ICAP Over FX Options.

Tradition-ICAP

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icap fx options

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