CLS has issued a declaration of support for the code, with a new register disclosing settlement members' support.
The FX Global Code of Conduct has been warmly met across the industry, having been freshly inked nearly two months ago. Given a groundswell of support from industry peers, CLS Group has signed a statement of commitment to the code, reiterating its outlined principles and transparency measures.
Published in May 2017, the FX Global Code of Conduct by the Bank of International Settlements (BIS) emphasizes the growing need for transparency in the industry Execution and governance. After lengthy industry collaboration and planning, the document will help foster more robust, fair, liquid, open, and appropriately transparent marketplaces, where different market participants are actively supported by a resilient infrastructure.
CLS’ declaration outlines its acceptance and implementation of the principles in the FX Code itself. Its commitment follows on the heels of many other leading venues across the retail and institutional FX space, many of which have seen the code as a long time coming. The declaration issued by CLS reads as follows:
“CLS Bank International has reviewed the content of the FX Global Code and acknowledges that the Code represents a set of principles generally recognized as good practice in the wholesale foreign exchange market. The Institution confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its FX Market activities in a manner consistent with the principles of the Code. To this end, the Institution has taken steps, based on the size and complexity of its Activities, and the nature of its engagement in the FX market, to align its Activities with the principles of the Code.”
Public register erected
CLS has also taken additional steps in backing the FX Global Code with a public register. This includes a register that is made available on the CLS website that is exclusive to settlement members. It will include signed copies of members’ FX Global Code Statements of Commitment.
It comes as no surprise that CLS has backed the code, given the role played in its formation by the group’s CEO David Puth, who has served as the Chairman of the Market Participants Group.
He echoed this sentiment, stating: “The FX Global Code is a common set of principles for good practice in the foreign exchange market. As one of the largest risk mitigation providers in the FX market, serving over 60 banks and 23,000 third-party entities globally, CLS is committed to implementing the principles of the code and leading by example on ethical behavior and best practice."
Of note, the European Central Bank (ECB) issued a blanket call for backing the FX Global Code, which was made mandatory for all currency pairs trading banks with which it collaborates. The traction the code has received has been quite large, and continues to grow just two months after its initial approval and passage.
The FX Global Code of Conduct has been warmly met across the industry, having been freshly inked nearly two months ago. Given a groundswell of support from industry peers, CLS Group has signed a statement of commitment to the code, reiterating its outlined principles and transparency measures.
Published in May 2017, the FX Global Code of Conduct by the Bank of International Settlements (BIS) emphasizes the growing need for transparency in the industry Execution and governance. After lengthy industry collaboration and planning, the document will help foster more robust, fair, liquid, open, and appropriately transparent marketplaces, where different market participants are actively supported by a resilient infrastructure.
CLS’ declaration outlines its acceptance and implementation of the principles in the FX Code itself. Its commitment follows on the heels of many other leading venues across the retail and institutional FX space, many of which have seen the code as a long time coming. The declaration issued by CLS reads as follows:
“CLS Bank International has reviewed the content of the FX Global Code and acknowledges that the Code represents a set of principles generally recognized as good practice in the wholesale foreign exchange market. The Institution confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its FX Market activities in a manner consistent with the principles of the Code. To this end, the Institution has taken steps, based on the size and complexity of its Activities, and the nature of its engagement in the FX market, to align its Activities with the principles of the Code.”
Public register erected
CLS has also taken additional steps in backing the FX Global Code with a public register. This includes a register that is made available on the CLS website that is exclusive to settlement members. It will include signed copies of members’ FX Global Code Statements of Commitment.
It comes as no surprise that CLS has backed the code, given the role played in its formation by the group’s CEO David Puth, who has served as the Chairman of the Market Participants Group.
He echoed this sentiment, stating: “The FX Global Code is a common set of principles for good practice in the foreign exchange market. As one of the largest risk mitigation providers in the FX market, serving over 60 banks and 23,000 third-party entities globally, CLS is committed to implementing the principles of the code and leading by example on ethical behavior and best practice."
Of note, the European Central Bank (ECB) issued a blanket call for backing the FX Global Code, which was made mandatory for all currency pairs trading banks with which it collaborates. The traction the code has received has been quite large, and continues to grow just two months after its initial approval and passage.
Dollar Surge Fails to Boost Forex Trading as Volumes Hit Five-Month Low
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24