European Commission looks to GFXC on potential regulation of spot FX

GFXC to meet this week about revising global FX code, which may influence European legislator stance.

Photo: fxmarkets

Despite strong opposition from market participants, the European Commission is continuing to look into regulating spot FX, taking its cue from the work of the Global Foreign Exchange Committee (GFXC). In its final recommendations to the EC on the Market Abuse Regulation (Mar) review report, published on Sep 23, the European Securities and Markets Authority said further analysis of spot FX regulation was warranted, but it should take into consideration the GFXC’s review of the FX Global.

Reprinted from fxmarkets, the copyright all reserved by the original author.