Equiti Group’s subsidiary, Equiti Capital, today announced it has signed the Statement of Agreement to the FX Global Code of Conduct.
The Code provides guidelines and good practices in the wholesale foreign exchange market, promoting integrity and effective functioning of the market.
Code of Conduct has already been adopted by several central banks including the Bank of England. Following the adoption of the Code of several other major players in the FX markets such as the banks, buy-side market participants and non-bank liquidity providers, Equiti has also taken steps to align its activities to adhere to the principles of the Code, based on the size and complexity of its activities and the nature of its engagement in the FX market.
Benedict Sears, Head of Equiti’s FX Agency Desk and Group Head of FX and PM Liquidity, said:
Signing the FX Global Code of Conduct supports Equiti’s client-focused approach to liquidity provision in the FX market. The Code provides a framework to evaluate execution choices and helps clients know what to expect from counterparties and liquidity providers, a principle fully supported by Equiti.
Operating within a strong governance framework, working with regulators and applying global best practices have always been – and will continue to be – a key part of Equiti’s business model.
According to the official announcement shared with LeapRate, all global entities within the Equiti Group will also adopt the principles of the Code.
The FX Global Code of Conduct aims to promote a robust, fair, liquid, open, and appropriately transparent market. The goal is to have a diverse set of Market Participants, supported by resilient infrastructure, that can effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.
Meanwhile, in November last year, Equiti opened a new regulated office in Europe, in Limassol, Cyprus, after obtaining a CySEC license in the beginning of October.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.