I was a guest at the launch of the FX Global Code on 25 May 2017, the GFMA Global FX Division, in conjunction with the Investment Association, the ACI and a number of other trade bodies, hosted an evening panel session with some of the key figures behind the development of the Code. This has come out of the well established ACI Model Code but is now expanded and designed for all participants globally in the industry. See highlights of the presentations
There is also a short video of highlights from the GFMA Global Code launch event, James Kemp moderates the panel with Guy Debelle (Deputy Governor, Reserve Bank of Australia), Simon Potter (Head of Markets, New York Federal Reserve Bank), Chris Salmon (Executive Director, Markets, Bank of England) and Adrian Boehler (BNP Paribas Global Co-Head of FXLM and Commodity Derivatives), discuss the content and form of the complete Code.
The FX and MM industry from BIS and central banks, through the banking community to corporate treasuries, have come together to set a code of practice which we will agree to and demand our principals and clients also adhere. I found the part concerning disclosures surrounding Last Look very interesting. Let us make sure we are the ones regulating ourselves. Look at and adopt the FX Global Code.