Introduction to the Global FX Code

A half-day course to looking at the Global FX Code, what it is, what you should expect from the sell-side, its impact on asset managers and how to assess complying with it.

“Strengthening buy-side adoption is one of the Global FX Committee’s top priorities for the coming year” Andrew Hauser Executive Director, Bank of England, December 2018

“Buy-side evades FX Global Code of Conduct labelling it ‘regulation in disguise’ ” The Trade, December 2018

Widespread adoption of the global FX code is a priority for central bankers and those concerned with market conduct and confidence. To date adoption by the buy side is relatively low; this course will help you assess how best to assess its impact on your firm and your clients.

KEY LEARNING OBJECTIVES:

• Understanding how the Global FX Code impacts asset managers: what to expect from the sell-side, what is expected of the buy-side
• Understanding the origins of the Global Code and how it is maintained
• Understanding how to sign up to the Code and what it indicates
• Understanding how the Code relates to existing regulation, including recognition by the FCA

09:30 Introduction to the Code

• A response to crises
• In the UK, a product of the FEMR
• Replacing the NIPS Code
• The creation of the GFXC and working groups

10:15 The Code in outline

• What Markets are covered
• Who are the Market Participants to which it applies
• The Principles, text and examples
• The Statement of Commitment and Registers

11:00 Break

11:15 Signing-up

• Process
• Implications
• Monitoring and review

11:30 The Code’s provisions

• Proportionality and gap analysis
• Application to buy side firms

12:00 What to expect from the sell-side

• Focussing on the Execution Principles
• The importance of agreed terms
• Last look, cover and trade and reject codes
• Disclosure, including timestamps 

12:30 Course end and Networking Lunch

• A sandwich lunch will be provided and an opportunity for you to network with the trainer and other delegates

Guy Sears, Specialist Advisor, The Investment Association
Hugo Gordon, Policy Specialist, The Investment Association

IA Member £375.00 +VAT
Non-Member £450.00 +VAT

Pay using a credit card online, or if you wish to be invoiced please email your full details to: Training@theia.org

PLEASE NOTE: Full payment for the course must be made prior to the course commencement date.

Any cancellation must be made in writing. For all cancellation received 15-30 days prior to the course start date, 50% of the course fee is still payable. No refund is given for a cancellation made 14 days or less prior to the commencement of a course. Transferring from one course to another is treated as a cancellation. You can substitute one delegate for another at no additional cost. In this instance, please give two business days’ notice.