Ex-Citi trader pleads guilty in price-fixing conspiracy

Christopher Cummins conspired to suppress and eliminate competition in Ceemea currencies

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A former Citigroup trader who specialised in Central and Eastern European, Middle Eastern and African (Ceemea) currencies has pleaded guilty to conspiring to fix prices in the foreign exchange market, the US Department of Justice (DoJ) said on January 12.

From approximately January 2007 until July 2013, New York-based Christopher Cummins and FX traders at competing banks conspired to suppress and eliminate competition by fixing prices in Ceemea currencies, the DoJ said.

According to the one-coun

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