Simon Lewis, chief executive of AFME, added that the consensus between fund managers and brokers was ‘encouraging’. The Association for Financial Markets in Europe ( AFME ) and the Investment Association have produced a new code of conduct which reportedly will lead to an improvement in the efficiency of equity capital markets . Bloomberg is the first to agree to both the new code and the new categorisation introduced by it . The code differentiates between ' indications of interest ' which brokers use to signal an interest in a trade at a given price . Those which are settled immediately without market impact will be labelled as ' ' client natural ' whereas those which may involve information leakage and potential market impact will be labelled as ' potential ' .
The Association for Financial Markets in Europe ( AFME ) and the Investment Association have produced a new code of conduct which reportedly will lead to an improvement in the efficiency of equity capital markets . Bloomberg is the first to agree to both the new code and the new categorisation introduced by it . The code differentiates between ' indications of interest ' which brokers use to signal an interest in a trade at a given price . Those which are settled immediately without market impact will be labelled as ' ' client natural ' whereas those which may involve information leakage and potential market impact will be labelled as ' potential ' .