World’s largest investment managers bring a price-rigging lawsuit against the top 16 global banks charging them with manipulation of the FX market to directly impacted the prices of their FX transactions. Simply put, those that bought when prices were being inflated were harmed because they paid too much,” states a complaint filed by law firm Quinn Emanuel Urquhart & Sullivan. “And those that sold when prices were being suppressed were harmed because they received too little. Paying supra-competitive prices is the prototypical example of an antitrust injury and directly stems from defendants’ collusive behavior,”…
FX TCA Providers help buy-side measure the cost of the manipulation.