Additionally, the GFXC has published guidance papers on the practices of Pre-Hedging and Last Look to support market participants in applying the Code’s principles in these areas. One area that reflects the development of the market is the role played by Anonymous Trading.
The Code has been amended to encourage greater disclosure by those operating anonymous platforms, including of their policies for managing the unique identifiers (‘tags’) of their users. Anonymous trading platforms are also encouraged to make available the Code signatory status of their users.