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Currenex rigged FX trades with Goldman Sachs, HC Technologies, State Street, US complaint alleges

( August 4, 2021, 22:31 GMT | Official Statement) -- MLex Summary: Currenex, Goldman Sachs, HC Technologies and State Street have been accused in US court of conspiring to rig auctions for foreign exchange transactions on Currenex’s network. According to the complaint, Currenex entered into secret priority agreements with State Street, Goldman, HC, and unidentified traders under which they could jump in line and consummate a trade without entering a competing quote. “With these secret agreements in place, the trading defendants’ incentive to compete for trades was suppressed or removed entirely. As a result, prices and spreads on Currenex became artificial, and plaintiffs and members of the class paid too much when buying, and received too little when selling.”See document below. ...

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