NY Regulator to Probe Deutsche Bank, Barclays Algorithms

The transcript discusses Benjamin Lawsky's shop in New York, which found evidence of algorithm trading manipulating benchmarks and foreign exchange. It highlights the importance of systematic protocols beyond rogue traders in rigging benchmark rates. The transcript also mentions potential conversations between Deutsche Bank and Barclays, which were excluded from a $4.3 billion settlement with regulators. Lastly, it notes that a monitor has been installed at Barclays, with plans for Deutsche Bank.

What has Benjamin Lawsky's shop in New York discovered about algorithm trading?

• It has manipulated benchmarks and foreign exchange.

• It has improved market efficiency.

• It has increased transparency.

• It has reduced trading costs.

What does the evidence suggest about the nature of the manipulation?

• It is solely the work of individual rogue traders.

• It involves systematic protocols and automated teams.

• It is a temporary issue.

• It is a result of market demand.

Which banks were not part of the $4.3 billion settlement?

• Goldman Sachs and Morgan Stanley

• HSBC and Citibank

• Bank of America and Wells Fargo

• Deutsche Bank and Barclays

What action has Benjamin Lawsky's shop taken at Barclays?

• Installed a monitor

• Closed down the trading platform

• Increased trading limits

• Hired new traders

What is the next step for Benjamin Lawsky's shop regarding Deutsche Bank?

• To install a monitor

• To merge with another bank

• To increase its trading volume

• To close its operations