NEX Markets, a NEX Group (LON:NXG) business which provides electronic trading technology services in the fixed income and foreign exchange (FX) markets, announced today that following the publication of the FX Code of Conduct (the Code), it plans to adopt the Code’s principles across its FX trading platforms.
NEX Markets played an active role in the development of the Code, with Darryl Hooker, Global Head of Spot and Metals and Head of FX EMEA, representing NEX on the Market Participants Group (MPG), a working group for those in the private sector engaged in developing the Code.
Seth Johnson
Seth Johnson, CEO of NEX Markets, said:
The creation of this Code, and the strong support for it across the market demonstrates the way in which the FX market participants are taking the lead in shaping and establishing an appropriate framework for the industry. NEX Markets will adopt the principles and promote their use across our customer base.
Darryl Hooker, added:
We’ve worked on the Code for two years and the contribution from market participants and central banks has been extensive. We believe the Code represents a fantastic opportunity for market participants to increase trust and develop a consistent approach to some of the key themes facing the market.
The Global FX Code of Conduct adopts a principles-based approach intended to strengthen code of conduct standards in the FX markets. It is designed to provide a common set of guidelines covering all market participants and to promote the integrity and effective functioning of the wholesale FX market.