23rd Nov 2015 17:06
LONDON (Alliance News) - The New York attorney general is investigating possible manipulation in foreign-exchange trading, Bloomberg News reported on Monday.
The report, which cited a person familiar with the matter, said the investigation is focused on brokers who may be placing fake orders, so-called 'spoofing'.
The New York attorney general's office has sent subpoenas for records to interdealer brokers including TFS-ICAP - which is a joint venture of ICAP PLC - Tullett Prebon PLC, BGC Partners Inc and GFI Group Inc, the report said.
Spokespeople for the brokers and the New York attorney general declined to comment to Bloomberg, with the report noting that the investigation is still in its early stages.
http://www.bloomberg.com/news/articles/2015-11-23/currency-spoofing-is-said-to-be-new-york-s-latest-target
Shares in ICAP closed down 0.4% at 508.20 pence on Monday, while shares in Tullett closed down 1.1% at 346.50p. The two companies recently agreed to merge their voice broking operations.
By Samuel Agini; [email protected]; @samuelagini
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