Connect to share and comment

Deutsche keeps forex fixings under review

PlacardEnlarge
(Globalpost/GlobalPost)

FRANKFURT (Reuters) - Deutsche Bank, the world's biggest foreign exchange dealer, keeps its involvement in currency fixings processes under constant review, it said on Wednesday.

Royal Bank of Scotland <RBS.L> told customers on Tuesday it would stop accepting client orders for a number of currency fixings.

RBS's move comes as regulators worldwide investigate whether traders at different banks used knowledge of customers orders to collude with one another to try and influence foreign exchange benchmarks, known as "fixes".

Separately, Deutsche Bank's Chief Financial Officer Stefan Krause said he expected the pace at which the bank is able to reduce it non-core assets to slow this year compared with 2013.

"We expect a slowdown in 2014," he said. "It depends a lot on market liquidity."

(Reporting by Thomas Atkins and Arno Schuetze; Editing by Mark Potter)

http://www.globalpost.com/dispatch/news/thomson-reuters/140129/deutsche-keeps-forex-fixings-under-review