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Backbench debates (unallotted day). Agreed to on question.

Lead member
Austin Mitchell
Answering member
Andrea Leadsom
Department
Treasury
Type
Adjournment debates
Date
3 February 2015
Reference
592 cc56-64WH
House
House of Commons

I am most grateful for the extra three minutes, Ms Dorries.

I am grateful for the opportunity to raise the important issue of the time-stamping of all customer transactions in the foreign exchange markets. Time-stamping would prevent points from being skimmed off for the profit of the bank or the dealers,...

Member
Austin Mitchell (Labour)
Type
Proceeding contributions
Date
3 February 2015
Reference
592 cc57-60WH
House
House of Commons

It is a pleasure to serve under your chairmanship, Ms Dorries. I congratulate the hon. Member for Great Grimsby (Austin Mitchell) on securing this debate on the incredibly important subject of foreign exchange manipulation. He will have been as disgusted as I was to learn about the benchmark rigging that...

Member
Andrea Leadsom (Conservative)
Type
Proceeding contributions
Date
3 February 2015
Reference
592 cc58-62WH
House
House of Commons

I am grateful to the Minister for her reply, but the difficulties that she has posed are not insuperable—they can be overcome. A time stamp is easier with electronic trading than with other forms of trading, but it should be used in all kinds of trades, because if there is...

Member
Austin Mitchell (Labour)
Type
Proceeding contributions
Date
3 February 2015
Reference
592 c62WH
House
House of Commons

All I can do is repeat what I said, which is that the inter-bank price is one price, but that will not be the price for a retail investor, such as someone going on holiday or a small business. If we time-stamp a transaction, we will have to have the...

Member
Andrea Leadsom (Conservative)
Type
Proceeding contributions
Date
3 February 2015
Reference
592 cc62-4WH
House
House of Commons