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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Barclays PLC    BARC   GB0031348658

BARCLAYS PLC

(BARC)
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Delayed Quote. Delayed London Stock Exchange - 09/20 11:35:02 am
151.54 GBp   +0.70%
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Barclays : NY banking regulator probing Barclays, Deutsche Bank's FX algorithm - source

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12/10/2014 | 11:35pm EDT
Logo of Deutsche Bank AG is seen in Tokyo

(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.

(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.

Representatives at Barclays did not immediately respond to an email seeking comment outside regular business hours. A DFS spokesman declined to comment.

Last month, regulators fined six major banks a total of $4.3 billion (2.73 billion pounds) for failing to stop traders from trying to manipulate the foreign exchange market, following a yearlong global investigation. Deutsche Bank and Barclays were not among the six banks.

Lawsky, who started his probe into possible manipulation of currency markets in February, chose not to coordinate a settlement with other regulators because he viewed those deals as too weak, a source told Reuters last month, an indication he's likely to go after the banks later and demand larger penalties.

Reuters reported last month that the civil settlements struck between six global banks and U.S. and UK authorities set the stage for negotiations over related ongoing probes that could bear much more severe consequences.

(Reporting by Supriya Kurane in Bengaluru; Editing by Gopakumar Warrier)

By Supriya Kurane

Stocks treated in this article : Deutsche Bank AG, Barclays PLC
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC 0.70% 151.54 Delayed Quote.0.68%
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Financials (GBP)
Sales 2019 21 275 M
EBIT 2019 7 236 M
Net income 2019 2 411 M
Debt 2019 -
Yield 2019 5,83%
P/E ratio 2019 11,2x
P/E ratio 2020 6,64x
Capi. / Sales2019 1,23x
Capi. / Sales2020 1,19x
Capitalization 26 129 M
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Technical analysis trends BARCLAYS PLC
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 183,61  GBp
Last Close Price 151,54  GBp
Spread / Highest target 65,0%
Spread / Average Target 21,2%
Spread / Lowest Target -27,0%
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Managers
NameTitle
James Edward Staley Group Chief Executive Officer & Director
John McFarlane Group Chairman
Paul Compton Group Chief Operating Officer
Tushar Morzaria Group Finance Director & Executive Director
John Stecher Chief Innovation Officer
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