ACI joins voices calling for changes to Principle 17
ACI finds “no firm evidence or specific situations” where there is any likely benefit to clients from trading in the last look window
The ACI Financial Markets Association says the wording of Principle 17 in the FX Global Code of Conduct should be modified to make the use of client trading information in the last look window inconsistent with good practice. The association’s remarks were submitted in response to the now-closed consultation on the subject, held by the Global FX Committee (GFXC).
The association, representing the interests of financial market professionals, said the word “likely” should be dropped from
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@fx-markets.com or view our subscription options here: https://subscriptions.fx-markets.com
You are currently unable to print this content. Please contact info@fx-markets.com to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Regulation
EU eases non-cleared margin rules for smaller players
New proposals aim to cut compliance and reporting requirements for phase five and six firms
UK’s benchmark rewrite threatens access to Asia NDF fixings
Key offshore rates likely to fall in new regime’s scope, potentially pushing them out of bounds
Banks urge Singapore to relax exposure limit on crypto assets
Lower capital for tokenisation and stablecoins welcomed, but cap will curb bank involvement for now
BoE’s Lintern steps down as head of FX
FX division will now be steered by Ankita Mehta, most recently head of cross-firm analysis and supervision
Why are FX markets settling for less?
Payment-versus-payment settlement has barely risen in the past 20 years. Perhaps it’s time for a new approach
Europe ‘lagging behind’ US in crypto markets
Mica made Europe first mover, but rapid US adoption leaves the region trailing, market participants say
Double, but no trouble? CVA capital hit may lack clout
Industry opinion mixed around Basel III endgame derivatives charge
Doubts swirl over future of FX cartel case
Group of banks accused of manipulation have filed for the class action to be dismissed
