Market Participants should identify and protect Confidential Information. (PRINCIPLES 19 AND 20)
Asset manager to bank market maker: Bank ABC just called me with an Axe to buy EUR/SEK. Are you seeing buying as well?
Market Participants should not disclose or solicit Confidential Information, including information about Clients’ Axes or trading activity. In the example above, the asset manager discloses and solicits Confidential Information, in this case another bank’s Axe. In the example below, the asset manager refrains from soliciting Confidential Information.
Bank ABC to Asset manager: We have an Axe in EUR/SEK Spot. Do you have any interest? Asset manager to bank market maker: Thanks for calling but we don’t have interest in EUR/SEK today.
Hedge fund to bank market maker: Are you long Sterling?
Market Participants should not solicit Confidential Information, including information on current positioning or trading activity, without a valid reason to do so. In the accept abl
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