Deadline for compensation claims in FX benchmark settlement nears

“You will not simply receive a cheque in the mail, even if the actions of the banks harmed you,” says Battea chairman

Law court gavel
Legal split: the court will have to approve a plan for allocating the $2 billion settlement fund

Market participants planning to claim compensation for being harmed by the actions of a group of banks involved in the US foreign exchange benchmark class action lawsuit need to start gathering data now, and file a claim to avoid losing out on a share of the settlement pot, which is more than $2 billion, Peter Hansen, chairman of claims-filing service Battea, told FX Week.

The lawsuit, known as the Foreign Exchange Benchmark Rates Antitrust Litigation case, has seen 13 of the 15 defendant banks

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