Adopt code or face regulation, warn central bankers

Global code of conduct must be adopted when its published, Schiavi and Debelle urge

Roberto Schiavi, ECB

Foreign exchange market participants must adopt and abide by the new global code of conduct when it is published or the industry could face regulators stepping in to end the principle-based nature of the market, warned two central bankers at the 14th annual FX Week Europe conference in London.

The global code of conduct is expected to number 50 pages when published – a mammoth task, according to a source close to the matter, as the document will cover all aspects of trading and there is a push

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