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Basel headquartered Bank of International Settlements published today the first phase of the ‘Global Code of Conduct for the Foreign Exchange Market’. The central bank of the central banks, as the BIS is commonly known, has outlined the principles for adherence to the new standards of operation on the FX market.
The document has been designed to optimize the way in which companies handle foreign exchange orders and transactions and is a direct response to the breach of ethical standards by a number of major banks’ trading desks in recent years.
The Global Code of Conduct for the Foreign Exchange Market ... (read more)