BNP Paribas USA Inc. Pleads Guilty to Antitrust Conspiracy

U.S. Department of Justice press release --------- BNP Paribas USA Inc. (BNPP USA), a subsidiary of BNP Paribas S.A., pleaded guilty yesterday to participating in a price-fixing conspiracy in the foreign currency exchange (FX) market, the Justice Department announced. According to the one-count information filed yesterday in the U.S. District Court for the Southern District of New York, between September 2011 and July 2013, BNPP USA conspired to suppress and eliminate competition by fixing prices in Central and Eastern European, Middle Eastern and African (CEEMEA) currencies, in violation of the Sherman Act, 15 U.S.C. § 1. The conspiracy involved manipulation of prices on an electronic FX trading platform through the creation of non-bona fide trades, coordination of bids and offers on that platform and agreements on currency prices to quote specific customers, among other conduct. To get more in depth information click on the picture below to read the release.