The Global Foreign Exchange Committee is requesting feedback from the financial industry.
An important announcement has been made on 8th April by the Global Foreign Exchange Committee (GFXC) regarding the next steps on the FX Global Code review. The Committee is requesting the financial industry collaboration and contributions concerning the proposals arising from the review of this significant document.
Summarily, the GFXC's Request for Feedback covers primarily anonymous trading, algorithmic trading and transaction cost analysis, disclosures and settlement risk. Also, the GFXC is looking for feedback on the Disclosure Cover Sheets that it has developed for both liquidity providers and FX venues.
In addition, changes are being proposed to 10 of the 55 principles of the FX Global Code and all contributions must be submitted until 7th May. Subsequently, the inputs will be analysed, presented and voted by the GFXC at their June 2021 scheduled meeting.
ACI FMA has created an international Working Group that aims to collect the feedback from ACI members on this review. If you are interested in sharing your opinions that will support ACI FMA’s feedback to the GFXC, please contact our Secretariat at: email@example.com
All documents are also available for consultation on GFXC’s website, at the following addresses:
• Press Release: https://www.globalfxc.org/press/p210408.htm
• Support material: https://www.globalfxc.org/consultative_process.htm?m=72%7C429
ACI FMA, as longstanding proponents and influencers of ethical conduct and good market practices to financial markets professionals, is committed to continuing to create synergies that help expand our expertise and the usage of our products globally.