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ACI FMA teams with Interarab Cambist Association for FX Global Code

ACI – The Financial Markets Association (ACI FMA), has teamed up with the Interarab Cambist Association (ICA) to promote the FX Global Code amongst financial institutions in the Middle East and Africa.

The ICA is a trade association representing professionals working at banks and financial institutions across the Middle East and Africa. Established in 1972, it has members in 15 countries and provides training and workshops relating to asset classes including FX, interest rate products, equities and commodities.

The partnership forms part of the ACI FMA’s goal of strengthening engagement with professionals and institutions in emerging and developing markets. As part of the collaboration, the ACI FMA and the ICA recently combined their annual member conferences – the ACI World Congress and ICA Annual Conference – for the first time in Cairo, Egypt, under the theme “Together Towards Tomorrow”. Over 500 economic experts and financial markets professionals participated in the conference between 25-27 October, making it one of the most high-profile events in the region in 2018.

Rui Correia, Director of Education at ACI FMA, commented: “We are very pleased to build on our cooperation with the Interarab Cambist Association. The Middle East and Africa are amongst the fastest-growing developing markets for FX trading, with countries such as South Africa and United Arab Emirates emerging as key regional trading hubs.

“The launch of the FX Global Code offers a unique opportunity to ensure the all FX market professionals adopt universal standards of ethics, conduct and behaviour. This partnership is an important step in raising awareness of the FX Global Code and promoting adherence.”

The ACI FMA will be hosting a webinar entitled ‘FX Global Code – Education and Adherence’ on the 14 November. It features representatives from the European Central Bank, BBVA, Refinitiv and ING Bank. For more details and to register, please click here.

ACI FMA launches ACI Online FX Global Code Exam

How does a FX market participant show adherence to the FX Global Code?

ACI Financial Markets Association (ACI FMA), the trade association which represents around 9,000 financial market professionals, is launching a new online version of the FX Global Code Certificate on 25 May 2018.

The 60-minute online exam certifies that market participants throughout the industry have taken the step towards demonstrating adherence and knowledge of the FX Global Code.

It assesses an individual’s understanding of the Code’s six themes and 55 principles – testing practical application of aligned best market practices.

Bruno Langfritz, Chair of the Management Board at ACI Financial Markets Association, said: “The ACI Online FX Global Code Exam, for the first time, enables individuals who wish to show they adhere to the FX Global Code easy access to a tool that demonstrates they understand the principles involved and can be taken anywhere on your computer.”

Paul Chappell, director of education at the ACI, added: “It was recognised there was an urgent need for people to have a more straightforward method of adhering to the Global Code of Conduct, and a facility whereby they could take an examination and get certification straight away,” says Paul Chappell, director of education at the ACI.

The certificate complements the increasingly popular ELAC Portal, which provides step-by-step professional development for those looking to prove their adherence to the Global Code via Questions and real-life Scenarios.

“How does one of the large banks know what they are doing is appropriate and in concert with what is happening with the rest of the industry?” asks Chappell.

“This is why having an examination and our Elac online learning facility, independently run and administered by ACI, allows large organisations with their own in-house training to benchmark themselves against the industry and not just their in-house competencies,” he adds.

With the one year anniversary of the FX code on the same day of the launch of the exam, all eyes will be on the FX industry to show how the code has tackled the problem of trust, and how exactly the code will develop moving forward.