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Foreign exchange market Global Code of Conduct supported
FOR IMMEDIATE RELEASE
May 26, 2017
NEW ZEALAND FINANCIAL MARKETS ASSOCIATION
The NZFMA supports foreign exchange market Global Code of Conduct
The New Zealand Financial Markets Association today announced its full support for the new Global Code of Conduct for the Foreign Exchange Market.
The Bank of International Settlements will release The Global Code of Conduct for the Foreign Exchange Market at 9am on 25 May 2017, London time.
“The NZFMA fully endorses the adoption of the Code by its members and welcomes this initiative. In adopting the Code, we re-enforce our commitment and expectation for industry participants to adhere to appropriate industry standards,” says NZFMA CEO Paul Atmore.
“The new Code sets out global principles of good practice in the global foreign exchange market.
Importantly, the Code covers appropriate conduct for both the buy and sell side, non-bank participants and the trading platforms.
This initiative has been further endorsed by both the Reserve Bank of New Zealand and the Financial Markets Authority.
The new Code was subject to more than 18 months of global consultation with key stakeholders including the NZFMA.
More information: http://www.globalfxc.org/fx_global_code.htm
ENDS
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