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)