Nov 18 (Reuters) - Barclays Plc will pay anadditional $150 million penalty to New York State's financialregulator to resolve allegations it rigged foreign exchangemarkets, the New York Department of Financial Services (NYDFS)said on Wednesday.
The British bank is also terminating a global electronictrading head for foreign exchange-related misconduct, NYDFSsaid.
Barclays, in some instances, used its forex system toautomatically reject client orders that would be unprofitablefor the bank because of price swings in milliseconds-long holdperiods, NYDFS said. The bank, however, did not disclose thatthe trades were being rejected, but instead cited "technicalproblems," NYDFS said.
The penalty follows another by NYDFS against Barclays inMay, bringing the penalties imposed by the regulator against thebank for forex-related conduct to $635 million. (Reporting by Suzanne Barlyn; Editing by Paul Simao)