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Coronavirus (COVID-19)—GFXC says the principles of the FX Global Code can help in time of ‘intense volatility’

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Published on: 26 March 2020

Published by LNB News

LNB News 26/03/2020

Document Information

Issue Date: 26 March 2020

Published Date: 26 March 2020

Jurisdiction(s): United Kingdom

Article summary

The Global Foreign Exchange Committee (GFXC) is encouraging market participants to be aware of how their actions can ensure the FX market remains ‘robust, open, fair and appropriately transparent’ given the intense volatility caused by the coronavirus (COVID-19) pandemic. The GFXC says it is possible that FX market participants may execute larger than usual FX volumes during end-of-month benchmark fixings. In addition, FX market participants may face more operational constraints, reflecting lockdown in some financial centres.

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