ACI FMA Welcomes the BIS Global FX Code
The ACI FMA has participated in the development of the Code, and fully supports this Code. Furthermore, we will strongly urge all ACI FMA members and wholesale market participants to learn the code, attest to their compliance, and demonstrate their adherence to the new Code.
The BIS Global FX Code is a continuation of the work that the industry has undertaken over many years, and where the ACI FMA has played a key role through its widely deployed Model Code. The Model Code will continue to exist for the time being, as it remains the code of choice for many market participants around the world, and covers a broad range of topics. As the BIS Code enters its second phase, most of these topics in The Model Code will also be incorporated.
Given its historical role in educating many in the wholesale financial market, through the ACI Dealing Certificate, the ACI Operations Managers Certificate and ACI Diploma, the provision of education around the BIS Global FX Code is a natural extension.
To support the global adherence to the BIS Global FX Code, ACI FMA has developed the ELAC Portal, which with provide all subscribers with the facility for e-Learning, Attestation and Certification on all of the components of the BIS Code, and provide MIS to senior management within subscriber institutions.
For more information:
- FX Global Code May 2016
- Update on Adherence Mechanism
- Press conference opening remarks from FXWG Chairman Guy Debelle
- Press conference opening remarks fro MPG chairman David Puth
- Press release central bank governors welcome progress on currency code of conduct
For more information about the ACI FMA ELAC Portal: ELAC-Portal