Gold fix fines hasten exchanges’ day
Last week’s $44 million fine levied against Barclays for rigging gold prices highlights how real-money investors will win transparency in FICC trading – for a price.
On May 22, Britain’s Financial Conduct Authority fined Barclays Capital £26 million ($44 million) after finding a Barclays trader had manipulated the 'London fix' for gold prices, a benchmark used for pricing billions of dollars’ worth of derivative contracts.
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