Overview
The complaint alleges that beginning at least as early as January 1, 2003, Defendants conspired to fix prices in the FX market on a daily basis. Defendants’ conspiracy targeted the pricing of over two dozen currencies, including the most heavily traded currency pairs, throughout each trading day. Specifically, Defendants’ conspiracy encompassed: (1) price fixing of bid/ask spreads; (2) price fixing various benchmark rates, including, but not limited to, WM/Reuters benchmark rates and the ECB reference rate; and (3) other collusive conduct, such as triggering client stop-loss orders and limit orders. In fact, it was widely reported that UBS traders interrogated by FINMA officials agreed that the anti-competitive conduct alleged was common practice.
| Claims Filing Deadline: | May 16, 2018 |
| Case Name: | In re: Foreign Exchange Benchmark Rates Antitrust Litigation |
| Preliminarily Approved Settlement Fund: | $2,310,275,000 |
| Class Period: | January 1, 2003 through December 15, 2015 |
Eligible Transactions:
Types of FX Instruments and FX Exchange Traded Instruments:
The transactions eligible to make a claim in this specific settlement fund include the following types of FX Instruments and FX Exchange Traded Instruments:
- FX Spot Transactions
- FX Forwards
- FX Swaps
- OTC FX Options
- FX Futures
- Options on FX Futures
- Other FX Products
Eligible Parties:
Direct Settlement Class: All persons who, between January 1, 2003 and December 15, 2015 entered into an FX Instrument directly with a Defendant, a direct or indirect parent, subsidiary, or division of a Defendant, a Released Party, or co-conspirator where such persons were either domiciled in the United States or its territories or, if domiciled outside the United States or its territories, transacted one or more FX instruments in the United States or its territories.
Exchange Only Settlement Class: All persons who, between January 1, 2003 and December 15, 2015 entered into FX Exchange Instruments where such persons were either domiciled in the United States or its territories or, if domiciled outside the United States or its territories, entered into FX Exchange Traded Instruments on a U.S. exchange.