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LMAX Exchange blog - FX industry thought leadership

All the latest business and technology views and insights on the FX industry from LMAX Exchange management and staff

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LMAX Exchange committed to FX Global Code of Conduct

The launch of the first ever FX Global Code of conduct is now upon us and I sincerely hope the market adopts it wholeheartedly and strives to improve on it in the months and years ahead.

Specifically we expect that Principle 17 will be enhanced. It currently states trading activity in the last look window as ‘likely inconsistent’ with good market practice – we hope it will made inconsistent with good market practice in short order.

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Video commentary by David Mercer, LMAX Exchange CEO

Guy Debelle should be congratulated for overseeing the birth of the code over the past 2 years and now the industry needs to follow the path of transparency highlighted throughout the Code to rebuild trust in our great FX market.

As the first participant to commit we now point you to our rulebook which includes a firm statement of commitment to the Global Code reflecting our support and adherence.

In tandem with the code, we recently released our new white paper: ‘TCA and fair execution: The metrics that the FX industry must use

The white paper proposes a blueprint for FX TCA metrics that can equip clients, ALL clients, with an effective evaluation of their cost of trading and quality of execution.

This can be start of bringing TCA out of the shadows and illuminating the stark choice for customers which is confusion and opacity or ……………     simplicity and transparency. Simplicity and transparency that’s advocated for in the Global Code.

The Global code and our white paper sit hand in hand and together provide an excellent template for a better, more efficient, more transparent FX marketplace. Download a copy here www.lmax.com/TCAwhitepaper today.

If you have any questions or feedback on the white paper or indeed the Global Code and our commitment to it, please reach out to me directly on email and social media or email TCAfeedback@LMAX.com

 

The brave new world of FX starts today, a long way from the bad old day of Jurassic FX.

Any opinions, news, research, analyses, prices or other information ("information") contained on this Blog, constitutes marketing communication and it has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Further, the information contained within this Blog does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of, or solicitation for, a transaction in any financial instrument. LMAX Exchange has not verified the accuracy or basis-in-fact of any claim or statement made by any third parties as comments for every Blog entry.

LMAX Exchange will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. No representation or warranty is given as to the accuracy or completeness of the above information. While the produced information was obtained from sources deemed to be reliable, LMAX Exchange does not provide any guarantees about the reliability of such sources. Consequently any person acting on it does so entirely at his or her own risk. It is not a place to slander, use unacceptable language or to promote LMAX Exchange or any other FX, Spread Betting and CFD provider and any such postings, excessive or unjust comments and attacks will not be allowed and will be removed from the site immediately.

LMAX Exchange will clearly identify and mark any content it publishes or that is approved by LMAX Exchange.

FX and CFDs are leveraged products that can result in losses exceeding your deposit. They are not suitable for everyone so please ensure you fully understand the risks involved. The information on this website is not directed at residents of the United States of America, Australia (we will only deal with Australian clients who are "wholesale clients" as defined under the Corporations Act 2001), Canada (although we may deal with Canadian residents who meet the "Permitted Client" criteria), Singapore or any other jurisdiction where FX trading and/or CFD trading is restricted or prohibited by local laws or regulations.

LMAX Limited operates a multilateral trading facility. LMAX Limited is authorised and regulated by the Financial Conduct Authority (firm registration number 509778) and is a company registered in England and Wales (number 6505809). Our registered address is Yellow Building, 1A Nicholas Road, London, W11 4AN.

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