Big banks are considering banning traders from some online chat rooms in response to investigations into alleged collusion between dealers over key financial market benchmark rates, people familiar with the matter said on Monday.
JPMorgan Chase, Credit Suisse and Citigroup, among others, are reviewing chat room use over concerns that some of those forums are seen by regulators as potential venues for collusion and market manipulation.
The banks are targeting so-called multilateral chat rooms, in which many dealers participate at the same time. Bilateral communications between individual traders and their counterparts at other banks, and between traders and their clients, are not under review, the sources said.
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