Markets Body Pushes For Adoption Of Global FX Trading Code

Law360, London (January 30, 2020, 12:34 PM GMT) -- A committee of central banks urged companies that trade in foreign exchange on Thursday to adopt a voluntary global code as it seeks to increase transparency in the $6.6 trillion-a-day market.

Large asset managers have yet to embrace the voluntary rules, according to the Bank of International Settlements’ market committee, which is made up of representatives from central banks.

The committee has called for more traders to adopt the so-called FX Global Code. The guidelines, which were unveiled in 2017, were drawn up to encourage good practice in areas including ethics, transparency and risk management.

A growing number of companies have said they...

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