Market Officials Refute Cartel Allegations On Forex Spreads

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LONDON--Leading figures in the foreign exchange market hit out last Thursday in response to allegations, first made in the Financial Times, of price fixing in euro/sterling trading.

Rob Standing, head of trading at Chase Manhattan -- speaking at the FX Week/Infinity Best Banks in FX Awards ceremony in London -- dismissed the charges. "Transparency in the FX market is at unprecedented levels," he said. "Price fixing just wouldn't work."

His comments were endorsed by Mike Wallace, senior currenc