fx global code of conduct mas

breadth of adoption of the Code, the effectiveness of adherence mechanisms, the extent to which behaviour in the market has changed and the effect of the Code on market functioning. Thank you for inviting me to join you at the 13th FX Week Asia Conference. Previous codes were catered to sell-side participants. Redline has offices in the.S., Europe, and Asia supporting traders, market makers, financial institutions and other market participants worldwide. While we were initially less optimistic about buy-side adoption relative to the sell-side, our outreach efforts have indicated that once the buy-side sees the benefits the Code brings, they become enthusiastic adopters. The Code was launched today after it was endorsed at the Global Foreign Exchange Committee meeting held in London on The Code is developed through a collaborative process between the Bank for International Settlements (BIS) Foreign Exchange Working Group and private sector market participants. Feedback from market participants has indicated that there is a demand for public registers.

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Consider how it can be applied to your firm, taking into account proportionality.e. Moving forward, the Code will be collectively owned and maintained by the local Foreign Exchange Committees (or FXCs through the Global Foreign Exchange Committee (or the gfxc). For example, in the hotly debated issues of mark-ups and last look, the good practices help you make more informed choices in selecting and interacting with your counterparties. What we have now is a single, global code of conduct for the wholesale FX market. The Code incorporates the principle of proportionality, given the diverse nature of market participants. This will likely take place 3 years after the launch and will be conducted together with the gfxc. Between 19, a 21-year period, global FX turnover rose from US1.2 trillion to US5.1 trillion per day, according to the BIS Triennial FX Survey, representing a compound annual growth rate of more than. Looking back, while we have seen healthy growth in volumes, the same cannot be said of conduct. As the preeminent FX centre in the Asian time zone, which serves the different investment and hedging needs of market participants, it is important that meilleur courtier forex france Singapore play a leading role in adopting Code. Thus far, a number of the largest FX market participants have indicated that they will be signing the Statement by May 2018. The Code and information related to adherence can be found at: For media enquiries, please contact: BOK, tel:, email: hkma.