US class action compliant alleges manipulation of FX futures market


A new complaint filed by Quinn Emanuel in the Southern District of New York on April 7, 2015 brings fresh allegations against the major FX dealers. The class action alleges that during the period from January 2003 to the present end users of foreign exchange futures listed on the CME were damaged by dealers’ attempts to manipulate the futures market in order to generate profits for their own proprietary trading books. These allegations are distinguished from those related to the manipulation of the WM/Reuters benchmark.