First phase of global code has been published by the Bank for International Settlements today to raise standards of conduct in the FX market
Thomson Reuters has publicly pledged its full support for the global code of conduct (Global Code) for FX markets following publication of the first phase of the code by the Bank for International Settlements (BIS) today. Thomson Reuters has played an active role in the development of the Global Code through its membership of the Market Participants Group (MPG) and through participation in regional committees.
“Thomson Reuters welcomes this initiative by BIS and industry members to raise standards of conduct in the FX market and ensure we work collectively to uphold fair and efficient markets,” said Phil Weisberg, global head of FRC Trading at Thomson Reuters. “Thomson Reuters operates at the heart of the FX market and we take very seriously our role to set standards by establishing clear rules and increasing transparency across our transaction venues. We will help our customers understand their responsibilities under the Global Code and encourage their active engagement in the interests of the wider FX market.”
To support customer understanding of and adherence to the Global Code, Thomson Reuters is also publishing two white papers that are designed to explain the responsibilities of market participants on both the buy and sell-side and how Thomson Reuters today offers solutions that can help them adhere to the Global Code.
Thomson Reuters FX transaction venues facilitate an average of more than $370 billion per day in FX trading across all major currencies for market participants in over 120 countries. More than 20,000 traders from asset managers, banks, corporate treasurers and hedge funds use Thomson Reuters award-winning transactions platforms to trade in the FX market.