EUA: Fixing FX: The Currency Trader’s New Guide to Ethical Behavior
Lananh Nguyen e Lucy MeakinBloomberg 25/05/2017 The $5.1-trillion-a-day currency market is getting a new playbook as foreign-exchange traders try to change their image from naughty to nice. In a worldwide cleanup effort, more than 40 industry participants, steered by central bankers, have hammered out the FX Global Code -- 75 pages of voluntary standards aimed at rooting out misconduct in the world’s biggest financial market. The document, released Thursday by the major central banks, offers such advice as: Protect confidential information, don’t mislead your counterparties and be fair and transparent. The guidelines culminate a two-year effort to bolster standards and discourage bad behavior after a rate-rigging scandal led to about $10 billion in finesfor banks and damaged trust in the industry. “This is effectively their last chance to try and…