In the run up to the May 2017 release of the FX Global Code, ACI FMA decided to retire the ACI Model Code. ACI FMA wholeheartedly welcomed the new FX Global Code. Through education, thought leadership and industry influence, ACI FMA will continue to assist its members – and the wider industry – to embrace the FX Global Code.
Regional Public Association of Financial Market Professionals ACI Russia – The Financial Markets Association presented the Russian language translation of the FX Global Code and announced its plan to create The Moscow FX Joint Standing Committee based on the Self-Regulatory Organization National Finance Association (“SRO NFA”). The new entity will be supported by Bank of Russia and participate in the activities of the Global FX Committee.
We agree that trading activity that utilises information from the trade request is inconsistent with good market practice. Furthermore we consider that such activity, when undertaken by market participants acting as principals as defined in Principle 8 of the GCC, is inconsistent with good market practice and thus the word “likely” should be removed.