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Investment Association calls for standardisation of FX reject codes
The 13 new high-level categories will allow rejection causes to be remedied quicker
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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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