NEX Markets to adhere to the FX Code of Conduct
25 May 2017
London, New York – NEX Markets, a NEX Group business which provides electronic trading technology services in the fixed income and foreign exchange (FX) markets, announces today that following the publication of the FX Code of Conduct (“the Code”), it plans to adopt the Code’s principles across its FX trading platforms.
NEX Markets played an active role in the development of the Code, with Darryl Hooker, Global Head of Spot and Metals and Head of FX EMEA, representing NEX on the Market Participants Group (MPG), a working group for those in the private sector engaged in developing the Code.
Seth Johnson, CEO of NEX Markets, said: “The creation of this Code, and the strong support for it across the market demonstrates the way in which the FX market participants are taking the lead in shaping and establishing an appropriate framework for the industry. NEX Markets will adopt the principles and promote their use across our customer base.”
Darryl Hooker, said: “We’ve worked on the Code for two years and the contribution from market participants and central banks has been extensive. We believe the Code represents a fantastic opportunity for market participants to increase trust and develop a consistent approach to some of the key themes facing the market.”
The Global FX Code of Conduct adopts a principles-based approach intended to strengthen code of conduct standards in the FX markets. It is designed to provide a common set of guidelines covering all market participants and to promote the integrity and effective functioning of the wholesale FX market.
To view the public statement made by NEX Group, please click here.
To view the market participants group statement of intent, please click here.
Bryony Scragg, Head of Media Relations
+44 (0) 20 7818 9689
Casey Sheets, NEX (US)
+1 917 915 3254
NEX Markets A NEX Group business, NEX Markets helps customers access liquidity and execute efficiently. We operate at the heart of the foreign exchange and fixed income global markets providing electronic trading technology and services. We offer access to multiple execution options, valuable liquidity from diverse sources and help execute transactions efficiently. Our financial technology, platforms and products are continuously evolving to meet the needs of a globally diverse community of professional traders who depend upon our services. For more information, go to www.nexmarkets.com
NEX Group plc offers customers better ways to execute trades and manage risk. Our products and services underpin the entire trade lifecycle pre-, during and post-execution. Our electronic trading platforms are industry standards. Customers use our lifecycle management and information services to optimise portfolios, control risk and reduce costs. We partner with emerging technology companies to bring greater efficiency, transparency and scale to the world’s capital markets. NEX is headquartered in London with offices worldwide. NEX. Empowering markets. For more information, go to www.nex.com