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.
EACT chair, Jean-Marc Servat, comments: “The FX Global Code is a very positive initiative aiming at ensuring fair and transparent FX markets that benefit all participants, including corporate end users. We believe that a widespread adherence to the Code and its principles can truly help improve the functioning of FX markets and prevent some of the dysfunctions of the past. We therefore encourage corporate treasury departments to familiarise themselves with the Code’s principles and to adhere to it, as well as to prompt their banking partners to adhere to the Code. The EACT welcomes corporations to post their Statements of Commitment on its register to demonstrate their adherence and support to good practices in the FX market.”