the French banks FX trading business. The CEO of ParFX, Dan Marcus, added: This initiative sets out guidelines and principles that will strengthen the integrity and effectiveness of the FX market. Information sharing is dealt with by the Code at principles 19-23. The FCA announced that the fines were the largest ever imposed by them to date. The Code, which has been developed around six core principles crucial to the FX ecosystem, will ensure that trading of FX instruments is supported by appropriate elements of integrity and transparency. The initiative aims to promote the integrity, trust and effective functioning of the global wholesale FX market which has suffered as a result of, but not limited to, trader misconduct, breaches of client confidentiality, failure to manage conflicts of interest and inappropriate order handling. The Code aims to instil the notion of truly ethical behaviour for all participants, and outlines an effective framework that, amongst other things, promotes responsible and sustainable trading behaviour. Is information sharing still permissible? Almost the last word at the launch went to Adrian Boehler, global head of fxlm and commodity derivatives at BNP Paribas, who wryly acknowledged that his bank was the latest to pay for past abuses. This has been a defining factor in ensuring that it reflects good market practice and is embraced by the broadest number of market participants, Put explained. This is because ultimately, transparency will lead to the democratisation of FX which, in the long-term, benefits everyone by creating better liquidity.
Other areas addressed by the code include electronic and algorithmic trading services, with the guideline that service providers should offer adequate disclosure on how they operate. Saxo has also taken the initiative to publicise a comprehensive order execution policy to describe in detail how it executes orders on behalf of its clients, as well as publish order execution statistics to help clients make the best choice when choosing a broker). The CEO of CLS is also highlighting that the effort day trading strategies pdf is far from over and that the publication of the full code is only the beginning of the process of restoring confidence in the global FX market. A directive on the issue was also published last week and a consultation period will run over the next four months to September. The publication of the code has been widely supported by the industry, as the Market Participants Group (MPG) was actively involved in its design. Harpal Sandhu, founder and chief executive officer (CEO) of Integral Development Corporation developer and operator of a multi-sided trading facility connecting market participants with sources of FX liquidity forecasts: The FX global code could well be the catalyst for growth across global currency markets. To emphasise support for openness and transparency Saxo Bank has taken the initiative to publish an Enhanced Disclosure that provides insight to Broker Incentive, Broker stability, Client Leverage and Performance. The foreign exchange (FX) industry has been suffering from a lack of trust.
Forex global code of conduct