1 year ago
80 Equiti Capital has signed the Statement of Agreement to the FX Global Code of Conduct, the subsidiary of Equiti Group announced today.
Equiti Group is spread across the globe with local offices in Europe, the UK, the Middle East, the Americas, Africa, and the Asia Pacific regions, providing trading support and services on the world’s leading trading platforms MT4 and MT5.
All global entities within the Equiti Group will also embrace the principles of the Code to further instill the highest industry standards across the Group.
Equiti aligned its activities with FX Global Code principles
The FX Global Code of Conduct sets out principles of good practice in the wholesale foreign exchange market. The purpose of the Code is to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, can confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.
Equiti has taken the appropriate steps to align its activities to adhere to the principles of the Code, based on the size and complexity of its activities and the nature of its engagement in the FX market.
The Code of Conduct has been adopted by several central banks, including the Bank of England, as well as other major players in the FX markets such as the banks, buy-side market participants, and non-bank liquidity providers.
Benedict Sears, Head of Equiti’s FX Agency Desk and Group Head of FX and PM Liquidity, said:” Signing the FX Global Code of Conduct supports Equiti’s client-focused approach to liquidity provision in the FX market. The Code provides a framework to evaluate execution choices and helps clients know what to expect from counterparties and liquidity providers, a principle fully supported by Equiti.
“We encourage more trading counterparties and market participants to adopt the Code to contribute to a robust global financial market. Operating within a strong governance framework, working with regulators and applying global best practices have always been – and will continue to be – a key part of Equiti’s business model.”
Developed by a partnership between central banks and Market Participants from 20 jurisdictions around the globe, the FX Global Code provides a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market.
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