NY banking regulator probing Barclays, Deutsche Bank’s FX algorithm – source

Maybe they’ll eventually realize the entire mortgage crisis was built on the same frickin’ algorithm process and it’s all patented, licensed and trademarked as if it were legal – in the USPTO!

Justice League

(Reuters) – The New York banking regulator is investigating if Deutsche Bank (>> Deutsche Bank AG) and Barclays Plc (>> Barclays PLC) used algorithms on their trading platforms to manipulate foreign exchange rates, a source with direct knowledge of the matter told Reuters.

Benjamin Lawsky, the head of New York’s Department of Financial Services (DFS), has ordered a monitor to be installed at Deutsche Bank and already has one in place at Barclays – a move that will allow him to collect greater evidence of alleged manipulation, said the source who did not want to be named.

Deutsche Bank spokeswoman Renee Calabro declined to comment but cited an earlier statement on the probes.

“Deutsche Bank has received requests for information from regulatory authorities that are investigating trading in the foreign exchange market. The Bank is cooperating with those investigations,” Calabro said, quoting the earlier statement.

Read on.

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One thought on “NY banking regulator probing Barclays, Deutsche Bank’s FX algorithm – source

  1. Deutsche Bank likes to steal homes
    they do not own by filing fraudulent
    foreclosure complaints!!! None of
    the mortgages claim they own never
    made it too the trust or they were
    never assigned properly to the trust.
    Investors would have owned the mortgages not Deutsche Bank!
    The investors was the real lenders,
    not the banks in the mortgage
    backed securities Ponzi Scheme
    called Securitization!

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