Central banks are set to publish a global code of conduct for currency traders in 2017. The six codes of conduct currently in force will be scrapped in favour of a new global template that goes beyond traders to include asset managers and trading platforms in a reflection of how the market is rapidly evolving.

This the first comprehensive code covering the £3.5tn a day market is expected to be widely adopted as regulators discovered longstanding price rigging at some of the world’s biggest banks and handed out a multibillion-dollar series of fines.

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