Deutsche Bank agreed to pay $190 million to settle U.S. litigation accusing it of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.
Deutsche Bank’s preliminary settlement was detailed in filings on Friday with the U.S. District Court in Manhattan, and requires a judge’s approval. The bank denied wrongdoing.
Manipulation was allegedly done through chat rooms with such names as “The Cartel” and “The Mafia,” and tactics known as “front running,” “banging the close” and “painting the screen.”
Hit the link below to access the complete Reuters article: