The GFXC met in Tokyo this week, and made several announced which are summarised below:
1. The Moscow FX Joint Standing Committee is now a full member, with Sergey Romanchuk of Metallinvestbank participating at the meeting.
2. Cover and Deal: Reflecting the general lack of market awareness of the use of cover and deal, additional example will be published and that examples relating to anonymous trading platforms should move to the Disclosures Working Group.
3. The Buy Side Outreach Working Group will publish materials and tools it has developed to help socialise and increase adoption of buy side firms.
4. The GFXC will streamline existing guidance, and where relevant produce new guidance, to aid Market Participants that are in the process of signing up to the Global Code.
5. The GFXC expects the 2019 GFXC survey to take place in the second half of the year.
6. The GFXC has commenced planning for the first three-year review of the FX Global Code, in accordance with the GFXC's Terms of Reference. The GFXC will solicit feedback from a wide range of market participants in preparation for the review.