Administrative/Regulatory
Nov. 30, 1999
Drop in the Bucket
Drop in the Bucket Without amendments to the Currency Exchange Act, off-exchange brokers will continue to scam customers with phantom trades on the foreign-currency markets.
By Kristen K. Nelson and James K. Ulwelling
Every day, global banks trade huge sums of money in the international-currency markets, largely free from regulation. These inter-bank dealings are referred to as "off-exchange" transactions, since they do not go through a recognized institution, such as the Chicago Board of Tra...
Every day, global banks trade huge sums of money in the international-currency markets, largely free from regulation. These inter-bank dealings are referred to as "off-exchange" transactions, since they do not go through a recognized institution, such as the Chicago Board of Tra...
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