DPA
German bank in Frankfurt: suspected cheating software in a trading platform
–
Dear User, <[if lte IE 6]!> You obviously are using an outdated version of Internet Explorer. This program is no longer supported by the manufacturer navigation use TZT. Please use your own security a current browser
<[endif] -> New trouble for the German bank in forex scandal. After a preliminary report by the mirror of the suspect is in the room, have the money home incorporated into its electronic trading platform “Autobahn” Cheat software to enrich themselves at the expense of its customers to. This allegation raise the American law firm Hausfeld in a class action, which it had submitted just before Christmas in a New York court, the magazine reported Friday. Accordingly, the German bank applied to the court to reject the lawsuit. A spokesman for the Institute declined to comment on the matter on demand. Specifically, it is, according to SPIEGEL about the accusation, the bank had “Autobahn” is programmed to the execution of client orders delayed unnecessarily. This time they had used to reject orders if the market developed in an unfavorable direction for them. In other instances, they have carried out orders to a poorer than the rate previously displayed.
Worldwide investigate overseer for quite some time whether banks have tricked the trillion-dollar foreign exchange market in order to pocket profits – similar to the interest rate scandal. Some houses have in the affair closed multibillion comparisons. The German bank is one not to, but it is one of the biggest currency traders in the world. She has repeatedly protested to cooperate with the guards. These look at the algorithms of electronic trading platform “Autobahn” already more closely.
An internal investigation of Deutsche Bank has according to information from financial circles so far no evidence of trickery in the major currencies euro, dollar, pound and yen arise, but probably isolated to the Russian ruble and the Argentinean peso. Some traders were suspended from duty. The foreign exchange scandal no longer ranks According to insiders, now high on the list of those disputes that currently preoccupy the bank most. These are more US mortgage lawsuits where still outstanding penalties
But when it comes to foreign exchange scandal house lawyers are still very busy. From the interim report for the third quarter shows that the German bank in relation to the foreign exchange scandal already a defendant in several purported class action litigation in the US is.
All relevant news of the day free to your smartphone. Get the new free app from manager-magazin.de. Here for Apple devices and Android devices here.
No comments:
Post a Comment