Manipulative and collusive practices in FX markets

    Research output: Chapter in Book/Report/Conference proceedingChapter (peer-reviewed)peer-review


    Until recently, the global foreign exchange (FX) markets were subject to surprisingly
    few allegations of manipulative or collusive practices in comparison to, say, the
    equity and commodity markets. This relatively clean bill of health was radically
    changed in June 2013, when three Bloomberg journalists published an article with the headline ‘Traders Said to Rig Currency Rates to Profit Off Clients’ (Vaughan, Finch and Choudhury, 2013). It strongly suggested that there was a widespread culture involving traders manipulating and colluding in the FX market – to the detriment of the banks’ clients and other market participants.
    Original languageEnglish
    Title of host publicationCorruption and Fraud in Financial Markets: Malpractice, Misconduct and Manipulation
    EditorsCarol Alexander, Douglas Cumming
    ISBN (Print)978-1-119-42177-1
    Publication statusPublished - 1 May 2020


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