BayernLB is first Landesbank to commit to FX Code
Munich-based regional bank’s move pushes number of signed-up participants closer to 500 mark
BayernLB, one of Germany’s eight regional banks, has become the first Landesbanken to sign a statement of commitment to the FX Global Code of Conduct, pushing the number of market participants promising to adhere to the principles to nearer the 500 mark.
The Code has seen strong initial take-up from the largest currency-dealing banks as well as brokers and trading platforms, but smaller sell-side institutions and the buy side have been slower to sign statement of commitments to the voluntary
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