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Traders Said to Rig Currency Rates to Profit Off Clients By Liam Vaughan, Gavin Finch & Ambereen Choudhury - Jun 12, 2013 10:37 AM ET

Posted by By Liam Vaughan, Gavin Finch & Ambereen Choudhury on Wednesday, June 12, 2013, In : 848FINACE 

Employees have been front-running client orders and rigging WM/Reuters rates by pushing through trades before and during the 60-second windows when the benchmarks are set, said the current and former traders, who requested anonymity because the practice is controversial. Dealers colluded with counterparts to boost chances of moving the rates, said two of the people, who worked in the industry for a total of more than 20 years.

The behavior occurred daily in the spot foreign-exchange ma...


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