News & ANNOUNCEMENTS
Below a list which encompasses recent press releases related with our company.
7 June 2016
Global FX Code of Conduct: 360T welcomes FX Market Global Code of Conduct
On 26 May the Bank for International Settlements (BIS) Foreign Exchange Working Group (FXWG) published the first phase of a new global code of conduct (the Coe) for operations in the global FX markets. The aim of the Code, which has been agreed to by Central Banks, market participants and infrastructure providers, is twofold in that it seeks to promote fairness and efficiency across the global FX markets whilst simultaneously raise behavioural standards and ethical awareness by all participants. The Code is published on the BIS website: https://www.bis.org/mktc/fxwg/gc_may16.pdf
360T, which has long been an advocate for fairness of wholesale market access, transparency, and high behavioural standards, is fully supportive of this Code and concurs with other industry participants that taking a principles based approach is by far the best solution to restoring trust and confidence in the FX market.
360T shall be tracking the Code as it is further developed and, where prudent, shall provide considered opinion to assist our clients with their own understanding of how to meet with the Codes obligations.
MiFID Update On: Own Account Dealing Exemption
MiFID II Own account Dealing Exemption has been amended to allow non-financial corporate users to be members or have direct access to trading venues.
As you may be aware, under the provisions of the 2014 revised Market in Financial Instruments Directive (MiFID II), all trading venues providing multilateral trading capabilities in MiFID financial instruments including Foreign Exchange Derivatives, will need to be authorised as an Exchange, Multilateral Trading Facility (MTF) or Organised Trading Facility (OTF). These authorisations will need to be in place by the time MiFID II takes effect, which is now scheduled for 3rd January 2018…