26/07/2017 (Agence Europe) – On Wednesday 26 July, the European Central Bank (ECB) called on the counterparties to foreign exchange transactions publicly to undertake to respect the global code of conduct for foreign exchange markets by the end of May 2018. This code, which was adopted at the meeting of the Global Foreign Exchange Committee in London on 24 May of this year, sets out a raft of principles of best practices on the foreign exchange markets, developed by the central banks and market players of 16 jurisdictions from the entire world. It aims to promote a solid, fair, liquid, open and transparent market, the ECB stresses in a press release. The monetary institution has furthermore decided to make accession to the code of conduct a prerequisite for membership of its contact group on foreign exchange operations. (MF)