Macquarie $49 Million Loss

Macquarie Group Ltd told that they have faced millions of losses in Currency derivatives trades.

Italian builder Cimolai SpA also traded with them and faced loss along with them

Both the firm started trading in Forex in 2017 in mutual relation

Bank claims that Cimolai company failed to pay the termination amount to Macquarie.

Bloomberg report, Cimolai has to pay almost 34 million dollars to different brokers

The agreement between these two companies is of limited upside and unlimited downside so that loss will be magnified

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