Saturday, January 16, 2016

The United States accuses Deutsche Bank: software rigged to trade currencies – The Republic

MILAN – A highway running in one direction, the one most favorable to the bank. After complaints to the sofware fraudulent ready to intervene to “reduce” emissions of CO2, comes the software can damage depositors. The common denominator between the two cases? The fact that the complaint arrivals from the United States and the dock are German companies.

As reported by the weekly Der Spiegel, Deutsche Bank – the first bank in Germany – has incorporated into its platform ‘Autobahn ‘(which translated from German means precisely highway) software for the exchange of the currency can hurt customers and enrich the bank. This accusation, as reported by the magazine, is the basis of a class action lawsuit filed by US law firm Hausfeld just before Christmas in a court in New York.

The platform – according to the reconstruction – would be scheduled so as to delay customer orders and refuse them if the market had taken a direction unfavorable to the German. Or, in other cases they would be made orders at a rate lower than previously shown by customers. Deutsche Bank has asked the New York court to reject the lawsuit. Christopher Rother, head office for Germany of Hausfeld, it is a situation parallel to that of the Volkswagen scandal. The firm has announced that it will present complaints also in London, the largest square in the world for the Forex, the platform for the exchange of currencies.

Arguments:
Deutsche Bank
cheating
Forex
currency
CO2
Starring:
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