The Bank of International Settlements (BIS), a forum for central banks, has said that it will publish a global code of conduct for currency traders in 2017. The central banks had been tasked to create this document in an effort to restore confidence in the markets, following the discovery by regulators of longstanding price rigging at some of the world's largest banks. In its latest report, published on Tuesday, BIS noted that "market participants have expressed concerns about recent developments and are seeking clarification from their regulators."
The Bank of International Settlements (BIS), a forum for central banks, has said that it will publish a global code of conduct for currency traders in 2017. The central banks had been tasked to create this document in an effort to restore confidence in the markets, following the discovery by regulators of longstanding price rigging at some of the world's largest banks. Six codes of conduct that are currently in force will be overruled by this new global document, which will also cover asset managers and trading platforms, as well as traders.