BoE launches public register for UK Money Markets Code
20 September 2018 London
Image: Shutterstock
The Bank of England鈥檚 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: 鈥淭he UK Money Markets Code is a key step in restoring trust in financial markets. It helps fair, effective, and transparent markets to flourish.鈥�
Gordon Lowson of Aberdeen Standard Investments, and chairman of the UK Money Markets Code Sub-Committee, commented: 鈥淭he public register enables market participants, their counterparties, their clients, and others to see the breadth of adherence to the UK Money Markets Code.鈥�
He added: 鈥淭he number of signatories already displayed shows clearly that it has been endorsed and embedded across UK money markets.鈥�
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: 鈥淭he UK Money Markets Code is a key step in restoring trust in financial markets. It helps fair, effective, and transparent markets to flourish.鈥�
Gordon Lowson of Aberdeen Standard Investments, and chairman of the UK Money Markets Code Sub-Committee, commented: 鈥淭he public register enables market participants, their counterparties, their clients, and others to see the breadth of adherence to the UK Money Markets Code.鈥�
He added: 鈥淭he number of signatories already displayed shows clearly that it has been endorsed and embedded across UK money markets.鈥�
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