Signage for Deutsche Bank sits above a bank branch in Frankfurt, Germany, on July 20. (Krisztian Bocsi/Bloomberg)U.S. prosecutors on Monday announced that they had settled charges against three European banking giants, HSBC, UBS and Deutsche Bank, for manipulating the markets for precious metals, including gold and silver, and filed charges against eight people, including some of their former traders. (After a spoofer, for example, places a sell order, other investors may worry that the price of an asset is about to fall and sell. The practice has become more problematic as trading is increasingly driven by computers and executed at blink-of-an-eye speeds by high-frequency traders, market experts have said. The manipulative trading went on for years, according to the complaints, starting in some cases in 2008.

Source: Washington Post January 29, 2018 20:52 UTC