Law firm Scott+Scott has stated that the settlement is likely to echo the $99.5 million paid by JPMorgan Chase & Co in 2013, and the $135 million paid by UBS last year
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FX rates could become fully automated as EBS approached by banks to develop system
A computerized central system for FX benchmarks which is being developed by EBS may remove the human aspect, reducing the likelihood of benchmark manipulation
Read MoreFCA wants to regulate more benchmarks including London closing spot rate. What does the industry think?
Following the recent cases in which firms have been censured for LIBOR and FX rate manipulation, the FCA is seeking industry perspective with regard to regulating 7 more benchmarks including WM/Reuters (WMR) London 4pm Closing Spot Rate
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