The work to date has reflected a very constructive and cooperative effort between the central banks and market participants. All of us recognise the need to restore the public’s faith in the foreign exchange market and the value of the Global Code in assisting that process and also in helping improve market functioning and confidence in the market. 1 See <www.bis.org/mktc/fxwg/gc_may16.pdf>. 2 See <www.bis.org/press/p150511.htm>.
3 See <www.bis.org/mktc/fxwg/am_may16.pdf>.