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finally the sprawling currencies market has something approaching a global rule book covering everyone in the wholesale end of the business central banks to traders brokers and everyone in between the Bank for International Settlements has released the first phase of the currencies market code of conduct a set of dos and donts for how to behave in a business that accounts for over five trillion dollars a day in flows but that is vexing ly difficult to pin down with rules the code of conduct is voluntary and theres not yet any clear steer on how disputes would be resolved but this is a genuine effort to clarify whats right and wrong and to project a wholesome image to the public to regain public trust what shines out here is that the silence that fell over currencies trading after banks were fine for their coded banter over supposedly confidential client information was not helpful crucially if a central bank asks a trader whats going on the new code says the trader can divulge tha
