Investment Association calls for standardisation of unsuccessful FX trades

New standardised categories to simplify the processing of unsuccessful trades on the FX markets have  been proposed by the Investment Association (IA), in a bid to bring greater consistency to the market and improve outcomes for investors.

First Published by e-Forex News: February, 2020

Galina Dimitrova
Galina Dimitrova

New standardised categories to simplify the processing of unsuccessful trades on the FX markets have  been proposed by the Investment Association (IA), in a bid to bring greater consistency to the market and improve outcomes for investors.  Under the proposals, when a request by an investment manager to trade on the FX markets is not executed, the brokers, dealers and platforms will be asked to use 13 new high-level reject code categories to organise their current use of reject codes. Galina Dimitrova, Director for Investment and Capital Markets at the Investment Association, said: “Currently brokers on the FX markets have no consistent way to communicate why trades aren’t successful. Our new reject code categories help ensure the reasons for trade rejections can be analysed rapidly, so steps can be taken to put right any errors and minimise potential disadvantage to savers and investors.”