FX Global Code: One Year Later

The Global Foreign Exchange Committee has an issued a report on the FX Global Code at its one-year mark. Also, here is the updated Code (taking into account changes to last look). I have previously noted, in an op-ed for Pensions & Investments, that “Investment managers that are fiduciaries to plans might want to embrace the code and advertise that fact to their plan clients. If there is skepticism of FX as a transparent market, an investment manager could seek to allay these concerns by explaining the code to its plan clients and how the code aims to make the operation of the market less opaque.”