[ M A R K E T
R E V I E W
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F O R E I G N
“Global FX banks have
been at the forefront, with
adherence to the Code
becoming an opportunity to
enhance reputational and
trust capital.”
E X C H A N G E ]
to the Code.
“But now a lot of firms realise that
adherence is difficult to achieve and
touches multiple parts of their busi-
nesses – that’s why the number of firms
KIERAN FITZPATRICK, CEO, BARRACUDA FX publicly adhering is only around 100. It
is an industry standard, but in terms of
numbers that is very small.”
In a general sense, the FX Global Code
is already shaping up to be an important reference point for
market participants just 12 months into its lifespan. This has
been driven by the larger players in the FX industry, many
of which were caught up in rigging scandals, as they seek to
cleanse their somewhat tarnished reputations.
“To date, the global FX banks have been at the fo