Following yesterday’s publication of the Global Code of Conduct for foreign exchange (FX) markets, David Newns, global head of Currenex and SwapEx, as well as EMEA head of GlobalLink at State Street Global Markets, offers his view:

“We welcome the final version of the Global Code of Conduct and the increased transparency that it will bring to market practices in our industry.  The Code provides a way for FX professionals to actively demonstrate that they adhere to the highest ethical standards; but it’s only the beginning of an ongoing process as the industry must continue to strive to rebuild trust.  We will evaluate the Code’s implications for our clients and our electronic trading platforms, as we move toward enhancing performance for all participants in the FX market.”