Barclays said to suspend Chief FX Dealer

Barclays Canary Wharf

Barclays has suspended three currency traders, including a chief dealer in London, amid a probe into potential foreign exchange manipulation, according to a person with knowledge of the decision.

Bloomberg News reports that none of the three has, however, been accused of any wrongdoing, said the person.

Regulators in London, Zurich, the U.S. and Asia are probing the $5.3 trillion-a-day foreign-exchange market after Bloomberg News reported in June that dealers in the industry said they had been front-running client orders and attempting to rig the benchmark WM/Reuters rates by colluding with counterparts and pushing through trades before and during the 60-second windows when the benchmarks are set.

Firms across the industry and regulators have been reviewing records of instant messages, e-mails, phone calls and trading data.

Royal Bank of Scotland has suspended two London-based foreign exchange traders as part of its internal investigation, a person with knowledge of the situation said Friday.

Hit the link below to access the complete Bloomberg article:

Barclays Said to Suspend Chief FX Dealer Amid Probe

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