HKMA finds signs of forex manipulation at banks

Regulator finds two cases of traders attempting to manipulate benchmarks

hkma
Hong Kong Monetary Authority headquarters

The Hong Kong Monetary Authority (HKMA) in late December 2014 unveiled the results of its investigation into the manipulation of foreign exchange markets, finding patchy evidence of wrongdoing.

Although there was "no evidence" of collusion among banks, the HKMA found two cases where traders tried to influence the market.

A Hong Kong-based trader with Standard Chartered was found to have asked a colleague to make trades to influence an unidentified "Asian currency" benchmark fixing. There was, ho

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: