FX industry given 12 months to implement global code

New set of 55 principles replaces regional codes with a single blueprint for good conduct in global FX market.

A long-awaited code of conduct for good practice in the global foreign exchange market is being unveiled on Thursday, and senior central bankers expect market participants to voluntarily enforce its provisions within less than a year.

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Guy Debelle, RBA

“There will be a period of time for market participants to adjust their practices where necessary to be in line with the principles in the code,” says Guy Debelle, deputy governor of the Reserve Bank of Australia (RBA).

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