An article from Reuters saying:
evidence showing that traders from several banks communicated with each other over electronic messaging about what rates they were going to submit for the local banking association’s fixings for non-deliverable foreign exchange forwards (NDFs), aiming to benefit their trading books.
“Traders were talking to traders, saying: ‘I need you to help me today, I need to fix low,'” said the bank source
Oh dear. Is that why its called the ‘fix’?
