Asia strongly supportive of Global Code of Conduct – GFMA
Backing from local central banks for the principles will filter down to participants, says John Ball
Foreign exchange market participants in Asian markets are giving widespread support to the FX Global Code of Conduct (GCC), but the region is unlikely to contribute significantly to the debate around last look, says John Ball, managing director of the global FX division for Asia-Pacific at the Global Financial Markets Association (GFMA).
On May 25, the Bank for International Settlements published the full and final version of the GCC, containing 55 principles outlining good behaviour in FX
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