Disclosure documents are also reviewed and updated at different times by different counterparties, and there is no central repository of multiple firms’ disclosures. The GFXC is aiming to develop solutions that will address issues in comparing information across different disclosure documents and facilitate access to disclosure information.
The GFXC is also considering reviewing the Code’s principles in light of the ongoing adoption o f algorithmic execution (‘algos’) in the FX market. It is estimated that between 10 and 20 per cent of FX spot trading globally is accounted for by execution algos. Usage of these algos can improve market functioning but they also introduce risks.