A key area of focus for the GFXC was the challenges market participants faced in accessing and evaluating the large amount of varied disclosure information being made available to them.6 To address this, the GFXC has created standardised Disclosure Cover Sheets for liquidity providers and for FX e-trading platforms. They have been developed to improve the accessibility and clarity of existing disclosures.
You should be able to more easily compare and contrast disclosures across a set of standardised information. The Code has also been expanded to include explicit references to the provision of information about trade rejections. Market participants should be making clients aware of the basis on which trades might be rejected, and should be keeping records of the reasons behind electronic trade rejections.