CLS has issued a declaration of support for the code, with a new register disclosing settlement members' support.
The FX Global Code of Conduct has been warmly met across the industry, having been freshly inked nearly two months ago. Given a groundswell of support from industry peers, CLS Group has signed a statement of commitment to the code, reiterating its outlined principles and transparency measures.
Published in May 2017, the FX Global Code of Conduct by the Bank of International Settlements (BIS) emphasizes the growing need for transparency in the industry Execution and governance. After lengthy industry collaboration and planning, the document will help foster more robust, fair, liquid, open, and appropriately transparent marketplaces, where different market participants are actively supported by a resilient infrastructure.
CLS’ declaration outlines its acceptance and implementation of the principles in the FX Code itself. Its commitment follows on the heels of many other leading venues across the retail and institutional FX space, many of which have seen the code as a long time coming. The declaration issued by CLS reads as follows:
“CLS Bank International has reviewed the content of the FX Global Code and acknowledges that the Code represents a set of principles generally recognized as good practice in the wholesale foreign exchange market. The Institution confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its FX Market activities in a manner consistent with the principles of the Code. To this end, the Institution has taken steps, based on the size and complexity of its Activities, and the nature of its engagement in the FX market, to align its Activities with the principles of the Code.”
Public register erected
CLS has also taken additional steps in backing the FX Global Code with a public register. This includes a register that is made available on the CLS website that is exclusive to settlement members. It will include signed copies of members’ FX Global Code Statements of Commitment.
It comes as no surprise that CLS has backed the code, given the role played in its formation by the group’s CEO David Puth, who has served as the Chairman of the Market Participants Group.
He echoed this sentiment, stating: “The FX Global Code is a common set of principles for good practice in the foreign exchange market. As one of the largest risk mitigation providers in the FX market, serving over 60 banks and 23,000 third-party entities globally, CLS is committed to implementing the principles of the code and leading by example on ethical behavior and best practice."
Of note, the European Central Bank (ECB) issued a blanket call for backing the FX Global Code, which was made mandatory for all currency pairs trading banks with which it collaborates. The traction the code has received has been quite large, and continues to grow just two months after its initial approval and passage.
The FX Global Code of Conduct has been warmly met across the industry, having been freshly inked nearly two months ago. Given a groundswell of support from industry peers, CLS Group has signed a statement of commitment to the code, reiterating its outlined principles and transparency measures.
Published in May 2017, the FX Global Code of Conduct by the Bank of International Settlements (BIS) emphasizes the growing need for transparency in the industry Execution and governance. After lengthy industry collaboration and planning, the document will help foster more robust, fair, liquid, open, and appropriately transparent marketplaces, where different market participants are actively supported by a resilient infrastructure.
CLS’ declaration outlines its acceptance and implementation of the principles in the FX Code itself. Its commitment follows on the heels of many other leading venues across the retail and institutional FX space, many of which have seen the code as a long time coming. The declaration issued by CLS reads as follows:
“CLS Bank International has reviewed the content of the FX Global Code and acknowledges that the Code represents a set of principles generally recognized as good practice in the wholesale foreign exchange market. The Institution confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its FX Market activities in a manner consistent with the principles of the Code. To this end, the Institution has taken steps, based on the size and complexity of its Activities, and the nature of its engagement in the FX market, to align its Activities with the principles of the Code.”
Public register erected
CLS has also taken additional steps in backing the FX Global Code with a public register. This includes a register that is made available on the CLS website that is exclusive to settlement members. It will include signed copies of members’ FX Global Code Statements of Commitment.
It comes as no surprise that CLS has backed the code, given the role played in its formation by the group’s CEO David Puth, who has served as the Chairman of the Market Participants Group.
He echoed this sentiment, stating: “The FX Global Code is a common set of principles for good practice in the foreign exchange market. As one of the largest risk mitigation providers in the FX market, serving over 60 banks and 23,000 third-party entities globally, CLS is committed to implementing the principles of the code and leading by example on ethical behavior and best practice."
Of note, the European Central Bank (ECB) issued a blanket call for backing the FX Global Code, which was made mandatory for all currency pairs trading banks with which it collaborates. The traction the code has received has been quite large, and continues to grow just two months after its initial approval and passage.
BGC Group Secures Backing from Global Banks for New $600M Trading Platform
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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