Investment Association calls for standardisation of FX reject codes
The 13 new high-level categories will allow rejection causes to be remedied quicker
The Investment Association has proposed new standardised categories of reject codes to simplify the processing of unsuccessful trades in foreign exchange markets.
IA, a trade body for fund managers, says the initiative promises to bring greater consistency to the market and improve outcomes for investors. A reject code is a shorthand identifier explaining why a trade has not been executed and is sent to a client following a rejection, but each bank has its own set.
Galina Dimitrova, director
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