The Bank for International Settlements (BIS) has issued the following statement from the chairman of its Economic Consultative Committee, Agustin Carstens:
“The BIS Governors welcome current initiatives of the foreign exchange committees to strengthen code of conduct standards and principles in foreign exchange markets.”
“The BIS Governors have agreed to set up a working group under the auspices of the Markets Committee to take these issues forward with a view to facilitating the establishment of a single global code of conduct standards and principles, promoting greater adherence to these standards and principles, and providing input into the wider official effort on market conduct coordinated by the Financial Stability Board.”
View Economic Consultative Committee statement on FX market best practices, 11 May 2015