Last week we circulated for comment the second draft of phase one of the Code via the various FXCs including the Australian FXC (and central banks in those countries on the Working Group without an FXC). This second draft incorporates comments on the first draft of the Code that we had circulated at the beginning of February. The first draft attracted over 1,400 comments.
The comments were almost universally constructive and very supportive of the whole endeavour. I would like to thank those who took the time to provide them. In writing this second draft, we and the market participants group took full account of all of these comments. Those who provided them can rest assured we have taken heed of them.