BoE launches public register for UK Money Markets Code
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BoE launches public register for UK Money Markets Code 20 September 2018London Reporter: Jenna Lomax
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The Bank of England’s Money Markets Committee (MMC) has launched a public register which displays statements of commitment by over 100 market participants (including the Bank of England) to the UK Money Markets Code.
The Code sets out the standards and best practice expected from participants in the deposit, repo and securities lending markets.
It was published in April 2017 and is underpinned by the key principle that market participants should always act in a manner to promote the integrity and effective functioning of these markets.
Andrew Hauser, executive director for markets and chairman of the Money Markets Committee, said: “The UK Money Markets Code is a key step in restoring trust in financial markets. It helps fair, effective, and transparent markets to flourish.”
Gordon Lowson of Aberdeen Standard Investments, and chairman of the UK Money Markets Code Sub-Committee, commented: “The public register enables market participants, their counterparties, their clients, and others to see the breadth of adherence to the UK Money Markets Code.”
He added: “The number of signatories already displayed shows clearly that it has been endorsed and embedded across UK money markets.”
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