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Announcement follows U.K. regulator's decision earlier this year to phase out the benchmark.
Memo suggests institutional clients will be charged for certain deposits due to new capital requirements.
Barclays announced that it's exiting most commodities businesses, following JPMorgan and Morgan Stanley; Goldman Sachs stands to benefit.
As probes into FX manipulation allegations grow, so does turnover among traders.
FX traders accused of rigging the WM/Reuters rates in order to front-run clients for profit.