That would ensure the Code is embedded at the core of the FX market, given the extent of coverage of the FXCs. But it is also important that it extends beyond that, and that there is, at the very least, an awareness of it across all market participants.
Such policies include product market reforms that strengthen competitive pressures and encourage the reallocation of capital towards the most productive firms; and labour market reforms, especially active labour market policies, that help provide workers with the skills they need to move to more innovative sectors. Successful examples of such measures have been introduced in Spain, Ireland and other reforming countries.