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Foreign Exchange Encyclopedia Foreign Exchange Global Code of Conduct (II)

2023/2/24 21:20:27  Classification:   Participation: 7  

F cashback forexeign Exchange Global Code of Conduct Applicable Objects One of the characteristics of the foreign rebatesinforex best forex rebate is that a variety of rebatemeaninginforex participate rebateinforextrading the market in different ways, through a variety of foreign exchange products Global Code of Conduct is also written in such a way that it is expected to apply to all foreign exchange market participants involved in the foreign exchange market, including buy-side bestforexrebate sell-side institutions, non-bank liquidity providers, electronic trading platform operators Given the diversity of the foreign exchange market and the fact that there is no one-size-fits-all approach, the Global Guidelines are intended to create a common set of guidelines for market participation For the purposes of this document, market participants include individuals and organizations (whether legal or not) that (1) are active in the foreign exchange market as a regular part of their business, engage in the buying and selling of a currency pair or on the basis of one or more exchange rates, carrying out transactions that result in gains or losses, such as derivatives, whether deliverable or non-deliverable, either directly or indirectly through other market participants; (2) operating facilities, systems, platforms or organizations that enable participants to execute the types of transactions described in (1); (3) providing foreign exchange benchmark execution services; (4) non- Retail market participants The term includes any person who performs the above activities on behalf of a market participant as a guide, it is expected that the following types of individuals or organizations typically participate in foreign exchange market activities as market participants as described in (1)-(4): financial institutions; central banks, unless this would inhibit the performance of their legal duties or policy functions; semi-sovereign or supranational, unless this would inhibit the performance of their organizational policy requirements ; asset management companies, sovereign wealth funds, hedge funds, pension funds and insurance companies; corporate treasury departments, corporate finance centers, which carry out external (non-group) transactions, either on their own accounts or on behalf of the groups parent company, subsidiaries, branches, affiliates, joint ventures; family treasury offices operating treasury operations; benchmark execution providers; non-bank liquidity providers ; companies operating automated trading strategies, including high-frequency trading strategies and providing algorithmic execution; broker-dealers (including retail FX brokers); investment advisors; consolidators; similar intermediaries and agents; money transfer companies, money changers, money services companies interacting in the wholesale FX market; electronic trading platforms; confirmation and settlement platforms; any of the following classified as FX market participants in the relevant jurisdictions As a guide, it is expected that the following types of individuals would not normally participate in foreign exchange market activities as market participants, as described in (1)-(4): price display platforms; money remittance businesses, money changers, money service companies interacting with retail customers; private bank customers trading as individuals or through personal investment vehicles; general retail public sector in terms of types and levels of foreign exchange market participation In terms of market participants, the market participant universe is very diverse It is expected that the global guidelines will apply to all of these market participants, but the details of how they will apply will depend on their underlying activities In practice, the initiatives taken by different market participants to bring their activities into line with the global guidelines will necessarily reflect the size and complexity of the market participants foreign exchange market activities, the nature of the market participants involvement in the foreign exchange market, and will take into account the applicable law Ultimately, the decision as to what initiatives should be taken and in what manner they should be implemented depends on each market participant and reflects appropriate internal assessments

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