GFXC launches tool to spur buy-side adoption of FX Code

The Global Foreign Exchange Committee (GFXC) has launched a web-based prototype tool designed to make it easier for buy-side firms to adopt the Global FX Code of Conduct, which has so far received only “lukewarm” support from investors.

Richard de Roos, head of corporate and investment banking operations at Standard Bank and vice chair of the GFXC, conceded the Global FX Code “can be quite overwhelming” for buy-side firms.

“To help enable easy adoption of the Code among the buyside, yesterday