ECB outlines approach to implementing FX Global Code

Adherence to the code of conduct will be a prerequisite for membership of the ECB’s Foreign Exchange Contact Group

European Central Bank
European Central Bank: “FXCG members will be required to demonstrate their institution’s commitment to the FX Global Code”

The European Central Bank has invited all foreign exchange trading counterparties to commit publicly to the principles set out in the FX Global Code (GCC) by the end of May 2018.

In a note published on July 26, the central bank stressed the importance of endorsing the statement of commitment annexed to the Code and encouraged firms to reaffirm their commitment to those principles following any substantial future update.

The ECB reaffirmed its own intention to commit to the Code. It has decided

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