Ex-Barclays trader pleads guilty in price-fixing conspiracy

High standards: "Conspiracies such as this undermine the integrity of our financial markets" – Brent Snyder

A former Barclays and BNP Paribas trader has pleaded guilty to participating in a price-fixing conspiracy to manipulate currency rates, following a global investigation into foreign exchange markets, the US Department of Justice (DoJ) said on January 4.

Jason Katz, who was an emerging markets (EM) FX trader at Barclays' offices in New York between 2010 and 2011, and later worked at BNP Paribas until 2013, is the first person to admit to criminal wrongdoing in the inquiry.

From approximately

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