Portware Commits to FX Global Code of Conduct as Adoption Continues

The FX Global Code of Conduct is continuing to attract more attention on part of firms from the institutional FX side of the business. The guidance which a set of experienced professionals from the industry has developed is becoming the de-facto standard for market participants in the forex industry.

The latest addition to the firms that have officially committed to the FX Global Code of Conduct is Portware. The company has been in the institutional space of the FX industry for well over a decade.

The FX product of the company, Portware FX is providing to customers a wide-ranging overview of the foreign exchange marketplace. The firm’s solution has been in use by a number of customers that are making use of its powerful analytics that enables the development of powerful algorithmic trading strategies.

The solution is aggregating data from multiple liquidity providers, banks, ECNs and inter-dealer platforms. The solution is presenting the entire FX marketplace in a single depth-of-book environment.

FX Global Code of Conduct Trickles Down

The ongoing adoption of the FX Global Code of Conduct is materially affecting the FX industry. Companies from the institutional space have already started adhering to the document. As the Global Code of Conduct is trickling down on all market participants, the institutional market players are the first after the central and the commercial banks to take the lead.

The following months will result in the whole industry that is executing FX market orders to commit to the FX Global Code of Conduct. The inevitability of the trickle-down process is warranted by the mandatory adoption that counterparts require in order to deal with clients.

As central banks adopted the Code, they have mandated commercial banks to follow. On their part, institutional market players are next in line, while the retail brokers will eventually need to sign up to the document if they want to deal with reliable institutional partners.

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