Deutsche Bank hires Charles River to investigate London Fix
Adam Pike, News Editor
4 Mar 2014, 4:51 p.m.
Deutsche Bank has hired the services of Charles River Associates to investigate the banks role in the London gold fix. According to reports Charles River was appointed several months ago after the process came under scrutiny from German and UK financial regulators.
This latest investigation into the potential manipulation of the precious metals markets, closely follows previous investigations into the rigging of interest rate and foreign exchange markets by some of the world largest financial institutions.
In January Deutsche bank informed markets that they wish to sell their seat on the fix. The remaining permanent members of the London Fix are Barclays Bank, HSBC Holding, Bank of Nova Scotia and Societe Generale. The last time a seat changed hands was in 2004 when NM Rothschild sold its seat to Barclays bank.