The Global Foreign Exchange Committee has recently completed its Three-Year Review of the FX Global Code and an updated version is now available on its website. One of the major outputs of the review has been the creation of Disclosure Cover Sheets for Liquidity Providers (LPs) and FX Platforms. As a participating public register, the MBA will be amending its FX Global Code page soon, to include a new column that will contain links to Market Participant’s Disclosure Cover Sheets. The Cover Sheets are voluntary templates that LPs and platforms can use to facilitate the transmission of key disclosure information, and support them in meeting the range of disclosure and transparency principles within the Code. In total, 11 principles out of the 55 embedded in the FX Global Code have been amended. Market Participants, including banks, are expected to host Disclosure Cover Sheets on their own websites. The MBA will be liaising with banks as well as the Regulator in relation to the updated FX Global Code.
