Corporates pay little heed to last look or FX Global Code

A bank signing a statement of commitment to the 55 principles is not a deciding factor for corporates

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Based on trust: corporate treasurers unconcerned whether firms sign Code – ‘my word is my bond’ still applies

Corporate treasurers remain unconcerned about banks’ use of last look and attach little value to whether counterparties sign up to the FX Global Code of Conduct, delegates heard at the fourth FX Week Australia conference on May 8.

Despite the industry scandal around practices such as last look and a catalogue of questionable behaviour in recent years, three treasury representatives said relationships and ideas are more important than “putting faith in a global regulator”.

“For me, it’s about

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