IntercontinentalExchange (NYSE: ICE), a leading operator of global markets and clearing houses, and NYSE Euronext (NYSE: NYX), the preeminent global equity, equity options and fixed income derivatives market operator, today announced a definitive agreement for ICE to acquire NYSE Euronext in a stock-and-cash transaction.
At a time when it seemed global banks’ transgressions, from interest-rate rigging to money laundering, could hardly get worse, UBS has managed to break new ground with this week’s revelations of Libor manipulation.
Tom Hayes, one of two former UBS traders charged by U.S. prosecutors, is portrayed by American regulators as the kingpin of a three-year campaign that succeeded in manipulating global interest rates.
UBS, which will pay $1.5bn to settle charges with U.S. and U.K. regulators for manipulating interest rates, is now under scrutiny in Hong Kong for possible misconduct linked to the city’s rates.
The official British Libor manipulation report points the finger at five banks for helping UBS rig the rate. So which banks were they ?
The scale of the UBS Libor-rigging is breathtaking. According to the reports from UK, US and Swiss regulators, nearly 2,000 requests for the Japanese yen Libor to be manipulated were documented, in instant messages, emails and by telephone. Almost every one of them was suspicious.
Goldman Sachs Top Worldwide M&A Advisor – Maintains Top Spot in the US, Europe & Asia Pacific
This could end up being the most expensive cab ride in history.
Two former UBS traders face felony charges for their alleged roles in the rigging of a key global interest rate, the U.S. Justice Department said.
Deutsche Bank, JPMorgan Chase, UBS and Depfa Bank Plc were convicted by a Milan judge for their role in overseeing fraud by their bankers in the sale of derivatives to the city of Milan.
Global IB Fees Fall 8%; Capital Markets Declines Bring IB Fees to 2-Year Low; Healthcare Fees Rise 59%; JP Morgan Takes Top Spot
Worldwide M&A Up 40%; Strong Gains for Large Cap Deals, Energy and Healthcare M&A Drive Strongest First Half Since 2007; Goldman Sachs Top Advisor
The Financial Conduct Authority has imposed more than £800m of fines on banks and other companies in the first half of this year – giving the chancellor the opportunity to make eye-catching allocations to worthy causes in this week’s budget.