LONDON — U.S., British and Swiss regulators fined five global banks more than $3 billion for attempted manipulation of foreign exchange markets.

The U.S. Commodity Futures Trading Commission, the U.K. Financial Conduct Authority and the Swiss Supervisory Markets Authority said Wednesday they had fined Citibank, JPMorgan Chase Bank, Royal Bank of Scotland, HSBC Bank and UBS a total of $3.4 billion.

“Today’s record fines mark the gravity of the failings we found and firms need to take responsibility for putting it right,” Martin Wheatley, chief executive of the FCA said. “They must make sure their traders do not game the system to boost profits.”

Some $5.3 trillion changes hands every day on the global foreign exchange market, with 40 percent of trades occurring in London. Dollars, euros and yen are traded in the loosely regulated market dominated by a group of elite banks.

But those trades have wider impact because companies around the world use market prices to value assets and manage currency risks.

The regulators found that between Jan. 1, 2008, and Oct. 15, 2013, traders at the five banks formed groups that shared information about client activity. These groups used nicknames such as “the players, “the 3 musketeers” and “1team, 1 dream.”

“Traders shared the information obtained through these groups to help them work out their trading strategies,” the FCA said in a statement. “They then attempted manipulate fix rates and trigger client ‘stop loss’ orders.”

Stop loss orders limit client losses in the face of adverse currency movements.