Our aim in articulating these principles is to provide market participants with the framework in which to think about how they handle stop-loss orders. The emphasis here is very much on the word ‘think’. The Global Code will not provide the answers to all your questions, but it should help you ask the right questions.
A good example of such endeavours is the work done by our Governor Emeritus, through his consultancy firm, L.K. Consultants. This firm spearheaded the recent right-sizing exercise at the Bank and was a pre-cursor for launching the Bank’s Strategic Plan 2012–2017, which we launched last month.