The GFXC has completed its review of the FX Global Code, updating its principles of good practice in the foreign exchange market in several key areas. The Committee is also publishing templates for industry participants to use in improving disclosures and assisting with transaction cost analysis.
The GFXC's updates to the FX Global Code follow an extensive process of consultation with the foreign exchange committees around the world and a public request for feedback in April. Updates have been made to eleven of the Code's fifty-five principles and strengthen the Code's guidance on anonymous trading, algorithmic trading and transaction cost analysis, disclosures and settlement risk.
GFXC Chair Guy Debelle commented that: "The updates proposed by our global working groups received strong support from market participants. The changes to the Code will ensure that the Code continues to promote the integrity of the market. Many of the changes are designed to bring about greater transparency
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