FXC issues broker points rules

The Committee has been debating the topic since the FBI swooped on 47 traders as part of ‘Operation Wooden Nickel’, an investigation into a series of currency scams, last November (FX Week, November 24, 2003).

Broker points – the pips a broker may have to recoup on mis-matched trades – can arise legitimately, but in this case bank traders were alleged to be ‘cashing points’ – executing trades with brokers at loss-making rates for the bank – in return for cash.
Traders at JP Morgan Chase, UBS

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: