This will complement the existing material that is already available on the GFXC’s website, including case studies of a variety of buy-side firms that have aligned their practices to the Code.4 Another priority for the Code review is to provide further guidance around certain trading practices, in particular last look and pre-hedging.
As I pointed out in a speech last November,3 virtually all of our trading partners share our inclination to invest a disproportionate percentage of domestic savings in domestic capital assets, irrespective of their differential rates of return. People seem to prefer to invest in familiar local businesses even where currency and country risks do not exist.