| Global regulators have published details of their plans to overhaul foreign-exchange benchmarks in response to allegations that traders colluded to manipulate rates in the US$5.3 trillion-a-day currency market.
The Financial Stability Board (FSB) proposed changes to the way the WM/Reuters rates are calculated, including extending the length of the one-minute windows on which the benchmark is based, and making firms set up systems to address potential conflicts of interest with their clients. The Basel-based FSB set an August 12 deadline for comments on the plan...............................................Full Article: Source
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