FX HedgePool Signs Up to FX Global Code
Posted by Colin Lambert. Last updated: March 2, 2023
FX HedgePool has become the latest FX platform to sign a Statement of Commitment to the FX Global Code – the move comes at a time when platform providers in the spot market especially are promoting “Code-only” liquidity streams in an effort to increase behaviour levels generally.
In a statement, chief financial officer Townshend Smith says, “With technology and innovation, we have built our business at FX HedgePool to increase fairness, transparency, and efficiency in the market. Because of this, our business is highly aligned with principles enumerated in the FX Global Code, to which we are a proud adherent and signatory.”
He adds that before signing the Statement of Commitment, FX HedgePool engaged in an extensive “gap analysis” of its business practices, including a principle-by-principle review against its risk management, operating procedures, information security controls, written agreements, disclosures, policies, governance structures, and independent reviews. These included SOC 2 certification and independent Penetration Testing.
“The result of this analysis assured our management team and board of directors that FX HedgePool can proudly and sincerely sign the FX Global Code Statement of Commitment,” Smith concludes.