In the run up to the May 2017 release of the FX Global Code, ACI FMA decided to retire the ACI Model Code. ACI FMA wholeheartedly welcomed the new FX Global Code. Through education, thought leadership and industry influence, ACI FMA will continue to assist its members – and the wider industry – to embrace the FX Global Code.
Regional Public Association of Financial Market Professionals ACI Russia – The Financial Markets Association presented the Russian language translation of the FX Global Code and announced its plan to create The Moscow FX Joint Standing Committee based on the Self-Regulatory Organization National Finance Association (“SRO NFA”). The new entity will be supported by Bank of Russia and participate in the activities of the Global FX Committee.
We agree that trading activity that utilises information from the trade request is inconsistent with good market practice. Furthermore we consider that such activity, when undertaken by market participants acting as principals as defined in Principle 8 of the GCC, is inconsistent with good market practice and thus the word “likely” should be removed.
As a leading foreign exchange centre, Singapore will want to play a key role in the adoption of the FX Global Code of Conduct, Jacqueline Loh, deputy managing director of the Monetary Authority of Singapore (MAS), told delegates at the 13th annual FX Week Asia conference.
At the recent ACI FMA Council meeting, held in Dublin, Ireland, the association’s representatives discussed its ongoing work in the areas of ethical conduct, education and networking.
A long-awaited code of conduct for foreign exchange traders has been published in a bid to restore trust in the world's $5tn-a-day currency markets, with major banks, asset managers and trading venues expected to commit to it.
Guy Debelle, deputy governor of the Reserve Bank of Australia and chair of the FX Working Group responsible for producing the Global Code, discusses his hopes and ambitions for the much-awaited document with Colin Lambert.
Bruno Langfritz, chair of the managing board, ACI – The Financial Markets Association and David Woolcock , chair of ACI’s Committee for Professionalism are quoted amongst other Market Participants, in an article by Profit and Loss on the subject of what the industry is saying on the release of the FX Global Code of Conduct.
ACI Services Help Markets Adhere to New Code Principles
ACI Financial Markets Association (ACI), the global trade association representing the interests of the professional financial markets community, welcomes the publication today of the BIS Global Code of Conduct, which lays down overarching global principles of conduct that promote integrity and effective functioning of FX markets.
The speech delivered by Guy Debelle, Deputy Governor Reserve Bank of Australia, at the FX week (Australia) 2017 Conference on 28 March, reiterates the motivation for the work that has been done on the Code, why you all should be interested in it, and then update you on where we are at with the process and outline the way forward.
Following the success of the newly-created ACIFMA FX Global Code Certificate, with immediate effect the ACIFMA have taken the decision to remove the code of conduct sections from its Dealing Certificate and Operations Certificate syllabuses – creating a discrete suite of standalone professional and behavioural examinations.
ACI America The Financial Markets Association, in partnership with Thomson Reuters, will host key central bank and market leaders, at the New York headquarters of Thomson Reuters on May 26th, 2016.
ACI Denmark announces the timetable for the Education Programme for 2016.
The ACI Dealing Simulation Course had been a cornerstone of the ACI Education platform, and has proven to be very popular with candidates. We welcome ACI FMA National Associations as a participant in the organisation and development of a number of these courses around the world.
On the 5th of July 2017, the ACI Lebanon Executive Committee visited H.E. Governor Riad Salamé, extending to him the congratulations of ACI Lebanon - which he presides over as Honorary President - for the renewal of his governorship for a new 6-year term.
ACI Slovenia organized its 25th Jubilee AnnualAssembly in Kranjska gora, from Friday 9th until Sunday 11th June 2017. The Assembly took place at Ramada Resort Hotel in Kranjska gora, where 101 delegates participated - including more then a third of participants from abroad. A new board was elected and Mr. Matevž Zbašnik from Banka Slovenije, handed over presidency to Mr. Matjaž Stritih, SID banka d.d.
ACI Russia Congress passed June 8, 2017, in the hotel Regis Nikolskaya. It was attended by more than 200 people. The main topic of the forum was the discussion of the FX Global Code, which was the result of a two-year work of representatives of central banks and leading market participants under BIS umbrella and was published in the final version on May 25, 2017.
At the recent ACI FMA Council meeting, held in Belgrade, Serbia last week, the association’s representatives discussed its ongoing work in the areas of ethical conduct, education and networking. Council approved the 2017 budget and received reports from its Working Groups and Committees. The group declared its unified support for ELAC, the ACI FMA’s eLearning, Attestation and Certification Portal (www.acifma.com/elac), and reiterated its intent to provide high standards for the professionalization of the wholesale financial markets.
European President, Bruno Langfritz, attended the first Trader's Day Event organised by ACI Portugal.
What will the FX Global Code mean for you?
Chris Salmon, Executive Director of Markets at the Bank of England, gave a speech at the ACI UK Summer Reception that included references to the importance of Global Conduct.
ACI Egypt hosted its third annual gathering at the Hyatt Regency in Sharm El Sheikh on the 24th/26th of March 2016. The event was attended by around 250 delegates including representatives from the Central Bank of Egypt.