ACI FMA has updated its Statement of Support to the new UK Money Markets Code.
Given that the Bank of England has published a revised version of the UK Money Markets Code on the 21st of April 2021 and following the support ACI FMA had already shown to the initial version of this Code*, our Association has taken the decision to update its Statement of Support to the UK Money Markets Code as we believe that the new version continues to promote fair, effective, and transparent money markets for UK Market Participants to confidently and effectively transact.
With that purpose in mind, ACI FMA has presented its updated Statement of Support to the Bank of England on the 17th of May 2021 and the document has already been uploaded to their website. To access the document, please find it enclosed to the present communication or by accessing the following link: https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-…
As stated in the Statement of Support, ACI FMA maintains its alignment with the core values, good market practices and high standards promoted by Code. Also, the Association defends that the new version of the UK Money Markets Code “(…) reflects the minimum standards and good market practices that are expected from Market Participants in the deposit, repo, and securities lending market in the United Kingdom”
We congratulate the Bank of England for their efforts that resulted in the updated version of the UK Money Markets Code.
As longstanding proponents and influencers of high standards of ethical and professional conduct, ACI FMA remains committed to promoting wide adherence to these initiatives that aim to implement the adoption of good market practices in the roles of financial market professionals.
*On 24th of April 2020, ACI FMA had already announced its full support through the publication of the Statement of Support to the 2017 version of the UK Money Markets Code on the website of the Bank of England: (https://acifma.com/news/aci-fma-fully-supports-uk-money-markets-code)