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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Barclays gold fixing ‘could be the tip of the iceberg’

Posted on 05 June 2014

Attempts by traders to move benchmarks to protect digital derivatives contracts - as was seen in Barclays’ recent fine by the FCA - could be a routine occurrence, industry insiders have warned.
Last month, Barclays was fined £26m for failing to adequately manage conflicts of interest as well as systems and controls failings, after a former trader placed orders to influence the London Gold Fixing and avoid paying out on a digital exotic options contract on the price of the yellow metal………………………………………..Full Article: Source


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