The Global Foreign Exchange Committee is requesting feedback from the financial industry.
The Global Foreign Exchange Committee (GFXC) has published draft working papers on the usage of pre-hedging and last look in the FX Market aimed at requesting industry feedback until the 31st of May.
On the press release issued on the 11th of May 2021, the GFXC informs that “(…) the papers are intended to promote wider knowledge and understanding of these practices and highlight how they relate to the FX Global Code's existing principles for good practice in these areas.”.
The GFXC also mentions that the collected feedback will be analysed, discussed and then approved on their meeting scheduled for June 2021, highlighting that “(…) When finalised, these guidance papers will not become part of the Code, but are intended to be read alongside the FX Global Code.”
Therefore, and following the same procedure adopted for the GFXC’s Request for Feedback published in April 2021, ACI FMA has created an international Working Group that aims to collect the feedback from our members on these papers. If you are interested in sharing your opinion that will support ACI FMA’s feedback to the GFXC, please contact our Secretariat at: email@example.com
The draft working papers can be found by accessing the following links:
- Pre-Hedging: https://www.globalfxc.org/docs/Draft_GFXC_Pre_Hedging_Guidance_Paper.pdf
- Last Look: https://www.globalfxc.org/docs/Draft_GFXC_Last_Look_Guidance_Paper.pdf
- Press release: https://www.globalfxc.org/press/p210511.htm
Source: The Global Foreign Exchange Committee