Asset managers urged to sign global forex code

Firms risk hit to reputation by not committing to standards on market practice, investor says

FX code

Buy-side firms are under pressure to adopt a global set of standards for the foreign exchange market because they fear the reputational damage of not signing up.

Christoph Hock, global head of trading at Union Investment, said: “I don’t want to be in the situation of an asset manager when clients are asking the question, ‘Have you signed the code?’ that there’s a ‘no’ on the table.”

Union Investment is one of around 50 buy-side firms that have committed to adopt the FX Global Code, which sets

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