GMFEC publishes meeting summary: The GMFEC took place in Tokyo in late March and was attended by representatives from eight major financial centres, including the Eurozone, the UK and the US. The attendees:

  • unanimously approved the new global preamble to the Codes of Best Market Practice and Shared Global Principles;
  • considered the implementation status of FSB's foreign exchange benchmarks report;
  • discussed changes to local laws to take account of the preamble and FSB paper;
  • discussed liquidity in the foreign exchange market;
  • heard updates from national committees, including an update from the UK on the Fair and Effective Markets review; and
  • considered developments in retail foreign exchange markets.

(Source: GMFEC Publishes Meeting Summary)