- dbFX Forex Broker Information
- Deutsche Bank fined $205M for ‘unsound’ conduct in Forex trading business
- DBFX trading information
dbFX Forex Broker Information
The ability to bundle same-currency payments into one FX transaction ensures best potential spreads while presenting individual transaction detail through various reporting formats including rate information facilitates easy reconciliation. Further, clients have the flexibility to initiate real-time trades via dbdirect internet with the corresponding payment sent via SWIFT or host-to-host. From funding locations to rate types, find out more about what's available via FX4Cash [click to enlarge].
Access the Deutsche Bank currency guide for expert currency information in searchable format [click to enlarge]. Deutsche Bank's db-direct internet delivers a comprehensive range of electronic banking services to both corporate and financial institutions [click to enlarge].
Jump to page content Accessibility. Decision useful reading for CFOs across Europe since Log in or Register. Print Email. Deutsche Bank FX4Cash - cross-border currency payment services FX4Cash strongly integrates with Deutsche Bank's existing client-access channels, extensive reach to global payment and clearing systems, as well as leading FX trading infrastructure to provide you with a one-stop solution for your cross-border currency payments worldwide. This allowed them to learn, for example, whether other traders had large positions in the opposite direction, so that they could attempt to coordinate trading strategies and achieve maximum influence on the published fix rate.
Deutsche Bank fined $205M for ‘unsound’ conduct in Forex trading business
The DFS investigation found that it appeared to be understood by other Deutsche Bank traders that the New York foreign exchange spot desk welcomed fix business, in part because of profits generated through manipulation. Deutsche Bank foreign exchange staff were also willing to assist customers who also sought to manipulate fix business.
The DFS investigation also discovered that certain Deutsche Bank employees sought to manipulate submission-based benchmarks for certain currency pairs. The benchmarks, supposedly derived from an objective submission process, instead became potentially tainted when traders sought submissions premised on benefitting their own particular trading positions.
DBFX trading information
In addition, on a number of occasions, certain Deutsche Bank traders and salespeople improperly swapped customer identity and order information with competitors at other banks. Deutsche Bank sales staff also engaged in other improper conduct designed to benefit the bank by shortchanging customers.
In a number of instances, Deutsche Bank staff intentionally failed to correct, or even intentionally made, errors or misleading entries in trade execution records so as to keep extra profit for themselves and the bank. The bank will also submit to DFS: an enhanced written internal controls and compliance program; a written plan to improve its compliance risk management program with regard to compliance by the bank with New York and federal laws and regulations with respect to its foreign exchange trading business; and an enhanced written internal audit program with respect to its compliance with applicable laws and regulations, as well as its internal policies and procedures.
In two separate settlements, the European Commission fined five banking giants for colluding in the trade of significant sums of foreign currency.
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