2009-07-20: Forex Magnates Daily Updates

Clearing house LCH.Clearnet has rejected a second takeover offer from a group including Deutsche Bank, HSBC and Michael Spencer’s Icap,

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  • Clearing house LCH.Clearnet has rejected a second takeover offer from a group including Deutsche Bank, HSBC and Michael Spencer’s Icap, City A.M. can confirm. The 14-strong consortium, known as the Lily Group, which is being advised by Deutsche, has been rejected again after making a €12-per share offer valuing the firm at €887m (£762m), 20 per cent above its initial offer.
  • The Forex Markets: A Rare Glimpse Into The World of Forex Trading Veteran inter-bank foreign exchange trader Thomas Fischer, MBA grants a rare glimpse into the arcane world of Forex trading he prospered in for 22 years.
  • A man booked 16 years ago for illegally possessing foreign currencies has finally been acquitted by the Delhi High Court. Justice Anil Kumar allowed Prabhat Kumar Srivastava’s petition, which challenged the FERA (Foreign Exchange Regulation Act) Appellate Tribunal’s decision dismissing his plea for quashing of the proceedings against him.
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