The Model Code: a universal code of conduct, with comprehensive guidelines and best practices which span the whole of Fixed Income, Currency and Commodity markets best practice, is used by more institutions in more countries, than any other in the world. It covers a broad range of conduct issues, from the detailed processes of the back office right through to the up-to-date functions of the electronic platforms utilised by the front office. It is cited as the best of the conduct codes in providing education, process, and a moral compass for guidance, to which all professionals can adhere.
The Model Code February 2015
Highlights 2015 Version
- Entirely reviewed and approved by the ACI Committee for Professionalism;
- Modern format, and searchable;
- New advice on arbitration, Last Look and covering recent events of extreme volatility;
- Further updates FICC coming soon.
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Partnering with the ACI will enable you to demonstrate the concrete steps you are taking to ensure all of your staff are educated to your expectations of the highest ethical standards of conduct, and that they understand their individual obligations.
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- ACI model code of conduct with emphasis on individual behaviour
- Global non-political, non-profit provider
- Covering wholesale financial markets
- Already available and in use around the world
- Global reach / delivery to all staff
- Central bank / regulator recognition
- Public, visible sponsorship of the global best practice code of conduct
- Mitigate operational risk under Basle III
The Background of The Model Code
The Model Code has been used for generations of traders and was compiled in response to an international need amongst dealers and brokers operating in the OTC foreign exchange, money and derivatives markets. The Committee for Professionalism (CFP) of ACI - The Financial Markets Association has responded to this need through regular contact with its membership of over 12,000 dealers, brokers, middle and back office staff in over 65 countries.
Following a comprehensive review of the situation, the ACI FMA, in conjunction with the CFP concluded that The Model Code will be available on-line to all ACI members globally. The Model Code Self-Certification Tool is now available for individuals to educate themselves on the latest best-practice in wholesale markets, and provide an ability for supervisors, compliance officers, and senior management to validate the training of their staff engaged in wholesale markets activity.
The Model Code Self-Certification Tool answers the call of the industry and of regulators globally to have a self-certification training programme that endorses best-practice, raises the bar on ethical conduct requirements, and unifies the codes of standard practice across FICC markets.
The Model Code Self-Certification Tool uses the most advanced thinking on conduct, and deploys state-of-the-art technology to provide answers to institutions on how to best train staff in front, middle and back offices in all global jurisdictions.