Algo fears spark hunt for neutral checks on forex code compliance

Banks seek third-party quantitative methods for confirming activities done in their names are aligned with the principles

Third-party partnerships: firms seek further protection in case regulators come knocking

Concerns about the use of their algorithms as well as their voice footprint in the market is prompting some banks to seek independent verification of their adherence with the FX Global Code of Conduct.

“One of the biggest concerns for me is not that people are doing anything that is intentionally untoward – can’t discount that, can’t say it’s never going to happen,” says a source at a major forex bank.

“But what I’m more concerned about is now that you have all of these different types of