London - 7 February 2023 – Equiti Capital, an entity of Equiti Group, has signed the Statement of Agreement to the FX Global Code of Conduct.
The Code sets out principles of good practice in the wholesale foreign exchange market. It provides a common set of guidelines to promote the integrity and effective functioning of the market.
Following the adoption of the Code of Conduct 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, Equiti has taken the appropriate steps, based on the size and complexity of its activities and the nature of its engagement in the FX market, to align its activities to adhere to the principles of the Code.
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.”
All global entities within the Equiti Group will also embrace the principles of the Code to further instil the highest industry standards across the Group.
The purpose of the FX Global Code of Conduct 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.