The FX Market features a diverse set of participants who engage in the market in different ways and across various FX products. The Global Code is written with this diversity in mind and is expected to apply to all FX Market Participants that engage in the FX Markets, including sell-side and buy-side entities, non-bank liquidity providers, operators of FX E-Trading Platforms, and other entities providing brokerage, execution, and settlement services. While there can be no universal "one size fits all" approach, given the diversity of the market, the Global Code is intended to establish a common set of guidelines for responsible participation in the market.
For the purposes of this document, a "Market Participant [The term Market Participant is generally used to refer to both firms and personnel, per the definition. However, in some cases it will be clear that a principle is by its nature more relevant to only one or the other. For example, certain principles deal primarily with busines
…