Traders in the $5.1-trillion-a-day currency market are getting a refresher course in good behavior.
Bloomberg News reports that the publication of the FX Global Code last week has market participants weighing how the document’s 55 principles - crafted by industry leaders and central bankers as part of a global cleanup effort - will affect their jobs on a daily basis.
For Citigroup, the world’s largest currency trader, the answer is a sweeping educational initiative. The bank has trained about 1,300 staff globally on market conduct in the past few years, dovetailing with the recommendations set out in the new handbook. The ACI Financial Markets Association has unveiled an online portal offering its roughly 9,000 members a way to take tests on the standards. The training will eventually be available via mobile app.
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