Deutsche Bank signs up to FX Global Code
Commits to foreign exchange (FX) industry’s new code of best practice
Deutsche Bank has signed a statement of commitment to the FX Global Code to support an industry-wide initiative to promote integrity in the foreign exchange market.
The FX Global Code is a set of global principles of good practice that was developed by central banks and market participants and launched last year.
By signing up to the Code, Deutsche Bank has committed to continuing to run its FX business according to these principles, which cover topics such as ethics, governance, information sharing, risk management and compliance.
Ram Nayak, Head of Global Fixed Income and Currencies said: “This is a positive step. It demonstrates our ongoing commitment to a fair, transparent, and resilient foreign exchange market and holding ourselves to the highest standards of behaviour.”
As one of the world’s leading FX dealers, Deutsche Bank took an active role in the drafting of the Code with Russell Lascala, Global Co-Head of GFX, representing the bank on the Market Participants Group.
Deutsche Bank signed the Code on March 28, 2018. The document can be found at the CLS Global Code Public Register.