RBC Capital
Market's Currency Trading Co-boss Graeme King Exits Amid FX Scandal
REUTERS
RBC
Capital Market’s Co-Head of Currency Trading Graeme King Exits Amid FX
Fixing Scandal
RBC
Capital Markets' co-head of foreign exchange spot trading, Graeme King, has
left the bank while a raft of global investigations into the suspected
manipulation of currency markets goes on.
According
to a Reuters report, King has already left the bank but there was no
confirmed reason for his departure.
RBC's
representatives were not available at the time of publication.
The
daily $5tn (£3.1tn, €3.7tn) currency market is the largest in the financial
system and is pegged to the value of funds, derivatives and financial
products.
Morningstar
estimates that $3.6tn in funds, including pension and savings accounts,
track global indexes.
FX
rates are calculated are compiled by using data from a variety of submitted
provisions on a number of platforms, such as Thomson Reuters.
Related
It
is then calculated by WM, a unit of State Street, to form WM/Thomson
Reuters at 1600 GMT daily.
Around
20 traders and senior managers in the FX markets have either been put on
leave, suspended or fired since the investigations were formally announced
in October.
Most
recently, senior Goldman Sachs forex trader Steven Cho is tipped to be
leaving the US investment banking giant.
Cho
is a partner at Goldman Sachs and heads up the bank's spot and forward
trading of major foreign currencies. A source at the bank confirmed Cho is
to leave.
Cho
is retiring alongside Leland Lim, Goldman's co-head of macro trading for
Asia Pacific, excluding Japan.
It
also emerged that Citi's global head of foreign exchange, Anil Prasad,
would leave the investment bank in March.
Sources
told IBTimes UK that his departure was "entirely
unrelated" to global investigations into the potential manipulation of
currency rates.
Nobody
from Goldman has been suspended or sacked and there is nothing to suggest
Cho's or Lim's exits are related to the regulatory probes.
|
4 comments:
Derivative instruments such as spot contracts are contracts for the purchase or sale of a commodity for immediate delivery.
Hi...!
This is nice Post Prime Trade FX provides
the best and easy learningForex Trading
Glad I found this post. It’s really awesome.FX rates are calculated are compiled by using data from a variety of submitted provisions on a number of platforms, such as Thomson Reuters. Discover the true potential of online currency trading with safe and secure trading platform from Tradesmartonline.
Security Investment Long term secure investment pool
As you know, many programs out there promise extremely high daily returns which are virtually impossible to live up to. We don't make any ridiculous claims, we simply provide program with a lucrative returns. Interest will be paid daily at up to 5%-10% flat rate until payout period is reached. We realize that there are no guarantees in this market, however, we feel that our strategy of diversification and risk management will allow us to provide you consistent returns well into the foreseeable future. In the future, we will design another plan for your long term investment as your diversification option in one place, in here.
fully automated plan
http://www.libertyreserve-investing.com
Secure offshore investing with Guaranteed returns
http://www.payinghyiponline.com/Security-Investment.html
Post a Comment