Traders warn buy side must embrace the FX Code too

Adherence to the FX Global Code has gained momentum ahead of the one-year deadline on Friday, but senior traders are concerned the buy side is less committed than the sell side.

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A year on from the publication of the FX Global Code in May 2017, adoption of the new conduct blueprint is finally gaining traction, but work remains to ensure it continues to reflect market practice and is widely adopted among buy-side firms.

According to the Global Foreign Exchange Committee (GFXC), which was formed last year to promote and maintain the code, 123 statements of commitment had been posted to eight public registers by April 12.

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