德國調(diào)查花旗債券交易
Citigroup’s bond trades probed
知情人士昨天表示，德國監(jiān)管機構(gòu)正對花旗集團(Citigroup)涉嫌操縱歐元區(qū)國債期貨市場的行為展開調(diào)查。
German regulators are investigating Citigroup for possible market manipulation in the eurozone government bond futures market, people familiar with the probe said yesterday.
據(jù)信，有關(guān)花旗集團債券交易員去年夏季是否在歐洲期貨期權(quán)交易所(Eurex)操縱了德國國債期貨市場，德國金融市場監(jiān)管機構(gòu)Bafin即將得出調(diào)查結(jié)論。英國金融服務(wù)管理局(FSA)也針對花旗集團在現(xiàn)貨市場的債券交易進行了調(diào)查，Bafin在調(diào)查過程中與之進行了協(xié)調(diào)。
Bafin, the German financial market regulator, is thought to be nearing the conclusion of an inquiry into whether Citigroup’s bond traders manipulated the Bund futures market on the Eurex exchange last summer. Its investigation has been co-ordinated with a separate inquiry by the Financial Services Authority of the UK into Citigroup’s bond trades in the cash market.
如果德國監(jiān)管*發(fā)現(xiàn)了市場操縱的證據(jù)，花旗集團可能會面臨訴訟，并引發(fā)歐洲各國政府的震怒。歐洲各國政府為該銀行聯(lián)合包銷其國債支付了大筆費用。
If the German regulator finds evidence of market manipulation, Citigroup could face a lawsuit and the ire of European governments, which pay large fees to the bank for underwriting their syndicated debt issues.
這家美國投資銀行在現(xiàn)貨市場有爭議的債券交易，自8月份以來已受到數(shù)家歐洲市場監(jiān)管機構(gòu)的調(diào)查。當(dāng)時花旗集團在泛歐交易平臺上，幾乎在同一時間內(nèi)按對手做市商的買入報價拋售110億歐元債券，導(dǎo)致這些競爭對手蒙受估計達1700萬歐元(合2200萬美元)的損失。
Controversial bond trades by the US investment bank in the cash market have been under investigation by several European market watchdogs since August, when it caused an estimated €17m ($22m) of losses to rival market-makers by hitting €11bn of their bids almost simultaneously on a pan-European trading platform,.
花旗集團今年一直受到本土市場以外丑聞的困擾。9月份，日本金融監(jiān)管*勒令花旗集團關(guān)閉在日本的私人銀行業(yè)務(wù)，稱其違反了銀行法律。隨后花旗在它的管理人員中驅(qū)逐了三人，這些人被認(rèn)為要對上述問題承擔(dān)責(zé)任，其中包括花期集團國際(Citigroup International)的董事長德里克•莫恩爵士(Sir Deryck Maughan)。
Citigroup has this year been beset by scandals outside its home market. In September, the Japanese financial regulator ordered the closure of Citigroup’s private bank in Japan for violations of banking laws. Citigroup subsequently ousted three of its most senior executives, who were deemed to share some responsibility for the problems, including Sir Deryck Maughan, chairman of Citigroup International.
花旗集團8月份的債券交易震驚了市場，因為該銀行首次利用EuroMTS國債現(xiàn)貨交易平臺的一項特殊規(guī)定。此項規(guī)定要求所有做市商在系統(tǒng)上提供連續(xù)報價。
Citigroup’s bond trades in August shocked the market as they, for the first time, took advantage of a quirk of the EuroMTS platform for trading cash government bonds, which requires all market-makers to provide continuous price quotes on the system.
花旗集團首先向現(xiàn)貨市場大量拋出110億美元賣單，引發(fā)對手銀行賣出期貨，以對沖它們在Eurex市場持有的德國國債的風(fēng)險。大約半小時后，花旗集團買回了70億歐元的債券，因而讓人懷疑花旗在操縱市場。
Citigroup first flooded the cash market with €11bn sell orders, causing rival banks to hedge their exposure in the Eurex market for German government bonds by selling the futures. About a half-an-hour later, Citigroup bought back €7bn of the bonds, raising suspicions of market manipulation.
針對花旗涉嫌在法蘭克福Eurex交易所操縱市場的調(diào)查，很可能集中在花旗席卷EuroMTS市場之前的交易。德國和英國金融監(jiān)管*的調(diào)查結(jié)果預(yù)計在未來幾周內(nèi)公布。英國監(jiān)管機構(gòu)已表示，如果發(fā)現(xiàn)花旗集團違反市場規(guī)則的證據(jù)，將對它處以罰款?；ㄆ旒瘓F拒絕發(fā)表評論。
An inquiry into possible manipulation on the Frankfurt-based Eurex exchange would be likely to centre on trades preceding the EuroMTS sweep. The results of the German and FSA investigations are expected to be announced within the next few weeks. The UK regulator has said Citigroup could be fined if evidence of market abuse is found. Citigroup declined to comment.
Citigroup’s bond trades probed
知情人士昨天表示，德國監(jiān)管機構(gòu)正對花旗集團(Citigroup)涉嫌操縱歐元區(qū)國債期貨市場的行為展開調(diào)查。
German regulators are investigating Citigroup for possible market manipulation in the eurozone government bond futures market, people familiar with the probe said yesterday.
據(jù)信，有關(guān)花旗集團債券交易員去年夏季是否在歐洲期貨期權(quán)交易所(Eurex)操縱了德國國債期貨市場，德國金融市場監(jiān)管機構(gòu)Bafin即將得出調(diào)查結(jié)論。英國金融服務(wù)管理局(FSA)也針對花旗集團在現(xiàn)貨市場的債券交易進行了調(diào)查，Bafin在調(diào)查過程中與之進行了協(xié)調(diào)。
Bafin, the German financial market regulator, is thought to be nearing the conclusion of an inquiry into whether Citigroup’s bond traders manipulated the Bund futures market on the Eurex exchange last summer. Its investigation has been co-ordinated with a separate inquiry by the Financial Services Authority of the UK into Citigroup’s bond trades in the cash market.
如果德國監(jiān)管*發(fā)現(xiàn)了市場操縱的證據(jù)，花旗集團可能會面臨訴訟，并引發(fā)歐洲各國政府的震怒。歐洲各國政府為該銀行聯(lián)合包銷其國債支付了大筆費用。
If the German regulator finds evidence of market manipulation, Citigroup could face a lawsuit and the ire of European governments, which pay large fees to the bank for underwriting their syndicated debt issues.
這家美國投資銀行在現(xiàn)貨市場有爭議的債券交易，自8月份以來已受到數(shù)家歐洲市場監(jiān)管機構(gòu)的調(diào)查。當(dāng)時花旗集團在泛歐交易平臺上，幾乎在同一時間內(nèi)按對手做市商的買入報價拋售110億歐元債券，導(dǎo)致這些競爭對手蒙受估計達1700萬歐元(合2200萬美元)的損失。
Controversial bond trades by the US investment bank in the cash market have been under investigation by several European market watchdogs since August, when it caused an estimated €17m ($22m) of losses to rival market-makers by hitting €11bn of their bids almost simultaneously on a pan-European trading platform,.
花旗集團今年一直受到本土市場以外丑聞的困擾。9月份，日本金融監(jiān)管*勒令花旗集團關(guān)閉在日本的私人銀行業(yè)務(wù)，稱其違反了銀行法律。隨后花旗在它的管理人員中驅(qū)逐了三人，這些人被認(rèn)為要對上述問題承擔(dān)責(zé)任，其中包括花期集團國際(Citigroup International)的董事長德里克•莫恩爵士(Sir Deryck Maughan)。
Citigroup has this year been beset by scandals outside its home market. In September, the Japanese financial regulator ordered the closure of Citigroup’s private bank in Japan for violations of banking laws. Citigroup subsequently ousted three of its most senior executives, who were deemed to share some responsibility for the problems, including Sir Deryck Maughan, chairman of Citigroup International.
花旗集團8月份的債券交易震驚了市場，因為該銀行首次利用EuroMTS國債現(xiàn)貨交易平臺的一項特殊規(guī)定。此項規(guī)定要求所有做市商在系統(tǒng)上提供連續(xù)報價。
Citigroup’s bond trades in August shocked the market as they, for the first time, took advantage of a quirk of the EuroMTS platform for trading cash government bonds, which requires all market-makers to provide continuous price quotes on the system.
花旗集團首先向現(xiàn)貨市場大量拋出110億美元賣單，引發(fā)對手銀行賣出期貨，以對沖它們在Eurex市場持有的德國國債的風(fēng)險。大約半小時后，花旗集團買回了70億歐元的債券，因而讓人懷疑花旗在操縱市場。
Citigroup first flooded the cash market with €11bn sell orders, causing rival banks to hedge their exposure in the Eurex market for German government bonds by selling the futures. About a half-an-hour later, Citigroup bought back €7bn of the bonds, raising suspicions of market manipulation.
針對花旗涉嫌在法蘭克福Eurex交易所操縱市場的調(diào)查，很可能集中在花旗席卷EuroMTS市場之前的交易。德國和英國金融監(jiān)管*的調(diào)查結(jié)果預(yù)計在未來幾周內(nèi)公布。英國監(jiān)管機構(gòu)已表示，如果發(fā)現(xiàn)花旗集團違反市場規(guī)則的證據(jù)，將對它處以罰款?；ㄆ旒瘓F拒絕發(fā)表評論。
An inquiry into possible manipulation on the Frankfurt-based Eurex exchange would be likely to centre on trades preceding the EuroMTS sweep. The results of the German and FSA investigations are expected to be announced within the next few weeks. The UK regulator has said Citigroup could be fined if evidence of market abuse is found. Citigroup declined to comment.