The ACI Financial Markets Association (ACI FMA) announced its collaboration with Axiom Global Advisors (Axiom) to boost the implementation of the FX Global Code.
The two companies will work together in delivery of services and tools so that market participants can implement the FX Global Code in their day-to-day practices. The goal is to raise professional standards in financial markets on a global level through collaboration and promotion of ethical behaviour and integrity.
Furthermore, ACI FMA and Axiom will organize event to raise awareness of the Code, provide instruction and help in the implementation.
Kim Winding Larsen, President Delegate of ACI FMA, stated:
Since the inception of the FX Global Code, a priority for ACI FMA has been the further education of market participants on the Code and ensuring its implementation across the market. In fact, our ELAC portal has been recognised by Market Participants as a fundamental tool to assist the objectives of staff ongoing adherence to the Code.
To support this goal, we are very pleased to be entering into a partnership with Axiom Global Advisors, who share our vision and mission of market wide adoption and education of the FX Global Code.
Julian Gladwin, Founder of Axiom Global Advisors, said:
We set up Axiom with the mission to help Market Participants understand the FX Global Code and the principles that need to be applied in order to best meet practices, promoting conduct and ethical behaviour. Partnering with ACI FMA will allow us to meet our shared goal of educating the FX industry in the most effective ways of implementing and monitoring the effectiveness of the Code.
In the beginning of February, BIS Market appealed for wider adoption of the FX Global Code of Conduct. Markets Committee Chair Jacqueline Loh state that a lot of companies have already committed to it since it was created in 2017, but there is still a considerable delay in the adoption of it among important market segments, notably for large buy-side participants like asset management firms.