All of this has been dramatically illustrated in recent years, months and indeed weeks. And although the epicentre of the global financial crisis was the US investment banking market, the links between banks and the budget have arguably been recently illustrated in no region more than Europe and in few European countries more than in Ireland.
Consequently, the Code has been updated to provide more guidance on the minimum set of information that algo providers should be disclosing. In addition, the GFXC is encouraging providers to make their disclosures in a standardised format. Accordingly, the GFXC has developed an Algo Due Diligence Template that market participants may use, as appropriate. This is available on the GFXC’s website.