2018 SURVEY HIGHLIGHTS
Published on 14 February, the 2018 GFXC survey “aimed to measure the awareness, adoption, implementation, and effects of the FX Global Code for market participants”. Sent to 500 FX participants globally, 303 respondents included new firms (not included previously) and represented diverse market segments, sectors, jurisdictions and sizes, across the spectrum of FX market participants.
- Significant increase in Code adoption from 2017 (11%) to 2018 (55%).
- Majority expected/required counterparties to adhere to Code (82%); 47% expected/required use of Statement of Commitment (SOC)
- Over 80% of sell side respondents and 55% of ALL respondents cited staff training as key driver for Code implementation.
- 80-90% of respondents say Code has positive effect on their firm AND wider market.