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It was last December that the trading industry’s largest self-regulating body, theGlobal Foreign Exchange Committee (GFXC), released a new code of conduct. The updated code proscribed trading by market participants based on information from the client’s trade request during the last look window.
Since then, the organisation has grown and it now counts over 300 institutions amongst its members. Last month, the group held its annual meeting, hosted by the South African Reserve Bank, in Johannesburg.
In attendance was Dan Marcus, CEO of ParFX, an interdealer broker in over-the-counter ... (read more)