The Global Foreign Exchange Committee (GFXC), which was established last year, is a forum that is exclusively dedicated to promoting the highest standards of conduct and a robust, fair, liquid, open and appropriately transparent FX market. Integrity, compliance and accountability have become even more important as the set of market players has grown more diverse.
More importantly, it provides guidance on what we are doing wrong, which should push us back to the boardroom to re-calibrate regulatory approaches and refine program operations.