Adopt FX code or face regulation, warn central bankers

Global code of conduct must be adopted, Schiavi and Debelle insist

roberto-schiavi
Roberto Schiavi, ECB

Foreign exchange market participants must adopt and abide by the new global code of conduct when it is published or the industry could face regulators stepping in to end the principle-based nature of the market, warned two central bankers at the 14th annual FX Week Europe conference in London on November 25.

The global code of conduct is expected to number 50 pages when published – a mammoth task, according to a source close to the matter, as the document will cover all aspects of trading and th