Foreword : Formulating a new benchmark of FX Best Practices
Manfred WiebogenPresident ACI, The Financial Mark
Increasing regulatory initiatives strive to capture, to master but
also to govern most of the financial markets. One of them, the
Foreign Exchange market, is still a mainly OTC (over-the-counter)
one, which has been overcoming the ongoing economic and sovereign
turbulences remarkably well.
What is the reason for that?
Players in the global FX market tend to act according to best
practices in promoting efficient market practices. These
practices are encouraging high standards of conduct and
professionalism. Being a rather flexible, deep volume and
counterparty driven marketplace the practitioners interest always
has been to maintain orderly and efficient markets. High
standards of dealing practice and integrity must prevail.
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