Asset managers urged to commit to FX Global Code

Firms risk hit to reputation by not signing standards on market practice, investment manager says

Global Code - people - Getty.jpg
Standards of conduct: buy-side adoption of the FX Global Code has been a high priority for regulators

Buy-side firms are under pressure to adopt a global set of standards for the foreign exchange market because they fear the reputational damage of not signing up.

Christoph Hock, global head of trading at Union Investment, said: “I don’t want to be in the situation of an asset manager when clients are asking the question ‘have you signed the Code?’ that there’s a ‘no’ on the table.”

Union Investment is one of around 50 buy-side firms that have committed to the FX Global Code, which sets out

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