The European Association of Corporate Treasurers (EACT) has today launched a register for corporates adhering to the FX Global Code (Code).
Since its drafting phases, the EACT has supported the Code, which was published in May 2017, and is a set of principles that aims to promote a robust, fair, liquid, open, and appropriately transparent market for all market participants.
The EACT’s register is intended for corporate treasury departments that are participating in FX markets as end-users. The EACT register is included in the Global Index of Public Registers.
Much has been made of the low buy side sign up to the FX Global Code, but as Colin Lambert finds out, it is likely only to be a matter of time.
Talk to senior members of the Global FX Committee and one can discern a sense of exasperation when they are asked (probably for the tenth time that day) about the lack of buy side adoption of the FX Global Code. The exasperation stems from what is the thorn in the side of the GFXC that is low adoption rates.