Barclays attempted to cancel Swiss franc trades
Bank and buy-side counterparties are renegotiating euro-franc trades executed with Barclays after the British firm looked to cancel some forex trades following events on January 15
Barclays tried to cancel EUR/CHF trades placed by counterparties in the immediate aftermath of the Swiss National Bank's decision to remove its 1.20 currency floor, before re-evaluating and trying to negotiate new price levels, according to industry sources.
The British bank told counterparties, which include Societe Generale and buy-side clients, that trades executed electronically between 9.30am
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