Andrew Hauser: Why the buy-side should buy into the FX Global Code

Remarks by Mr Andrew Hauser, Executive Director for Markets of the Bank of England, at London FX Hive Live, London, 6 December 2018.

Central bank speech  | 
07 December 2018

Introduction

Thank you very much for the invitation to speak with you today. Much of your agenda is rightly focused on the future: on how to exploit new technology; how to trade with new platforms and market participants; and how to meet ever more demanding customer needs. That relentless push to innovate is one of the great strengths of the global FX markets, and it is a privilege to be part of that conversation.

Against that backdrop, my own remarks - on getting the buy-side signed up to the FX Global Code - might seem a little backward looking. I hope to convince you otherwise. At a time when FX markets are evolving rapidly, there has never been a more important time for investors active in those markets - all of you - to be shaping, and adopting, the norms, conventions and standards embodied in the Code.