UK Money Markets Code - Revision history

Doug: Mend links.

2024-06-19T22:40:44Z

Mend links.

← Older revision		Revision as of 22:40, 19 June 2024
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	:<span style="color:#4B0082">'''''Signing the Code may support your legal position'''''</span>		:<span style="color:#4B0082">'''''Signing the Code may support your legal position'''''</span>

	:" The Code is recognised by the FCA as an industry standard. The principles are designed to protect both you and your counterparties, and to ensure orderly and efficient markets. Therefore, among other reasons for signing, we infer that a statement of commitment by a corporate treasury may be a beneficial (and efficient) way of demonstrating best practice when answering 'KYC' questions from its regulated sell-side counterparties.		:"The Code is recognised by the FCA as an industry standard. The principles are designed to protect both you and your counterparties, and to ensure orderly and efficient markets. Therefore, among other reasons for signing, we infer that a statement of commitment by a corporate treasury may be a beneficial (and efficient) way of demonstrating best practice when answering 'KYC' questions from its regulated sell-side counterparties.

	:Corporate treasurers may find it helpful to view the Code as a risk mitigation tool. Following best practice may help you: to keep your internal operations robust in periods of volatility; to know what to expect from your counterparties (and to hold them to account); to reduce settlement risk; and - if things do go wrong - potentially to support your legal position, if you can demonstrate that you were following recognised industry best practice."		:Corporate treasurers may find it helpful to view the Code as a risk mitigation tool. Following best practice may help you: to keep your internal operations robust in periods of volatility; to know what to expect from your counterparties (and to hold them to account); to reduce settlement risk; and - if things do go wrong - potentially to support your legal position, if you can demonstrate that you were following recognised industry best practice."
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	==See also==		==See also==
	* [[Bank of England]]		* [[Bank of England]]
			* [[Counterparty]]
	* [[Financial Conduct Authority]] (FCA)		* [[Financial Conduct Authority]] (FCA)
	* [[FX Global Code]]		* [[FX Global Code]]
			* [[Know-your-customer]] (KYC)
	* [[NIPS Code]]		* [[NIPS Code]]
	* [[Repo]]		* [[Repo]]
			* [[Risk mitigation]]
	* [[Securities lending]]		* [[Securities lending]]
			* [[Sell-side firm]]
			* [[Standard]]


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	*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code/the-uk-money-markets-code-explanatory-notes The UK Money Markets Code: explanatory notes - Bank of England - June 2024]		*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code/the-uk-money-markets-code-explanatory-notes The UK Money Markets Code: explanatory notes - Bank of England - June 2024]
	*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code The UK Money Markets Code & Money Markets Committee - Bank of England]		*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code The UK Money Markets Code & Money Markets Committee - Bank of England]

	~~[[Category:Financial_products_and_markets]]~~

	[[Category:Financial_products_and_markets]]		[[Category:Financial_products_and_markets]]

Doug: Update for changes on 7 June 2024.

2024-06-19T22:32:24Z

Update for changes on 7 June 2024.

← Older revision		Revision as of 22:32, 19 June 2024
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	<span style="color:#4B0082">'''''Good practice as standard'''''</span>		:<span style="color:#4B0082">'''''Signing the Code may support your legal position'''''</span>

			:" The Code is recognised by the FCA as an industry standard. The principles are designed to protect both you and your counterparties, and to ensure orderly and efficient markets. Therefore, among other reasons for signing, we infer that a statement of commitment by a corporate treasury may be a beneficial (and efficient) way of demonstrating best practice when answering 'KYC' questions from its regulated sell-side counterparties.

			:Corporate treasurers may find it helpful to view the Code as a risk mitigation tool. Following best practice may help you: to keep your internal operations robust in periods of volatility; to know what to expect from your counterparties (and to hold them to account); to reduce settlement risk; and - if things do go wrong - potentially to support your legal position, if you can demonstrate that you were following recognised industry best practice."

			:''James Winterton, associate policy and technical director at the Association of Corporate Treasurers - June 2024.''


			:<span style="color:#4B0082">'''''Good practice as standard'''''</span>

	:"Both the FX Global and the UK Money Market Codes are voluntary, but drafted to encourage the broadest possible range of market participants to become involved by signing up to the statement of commitment.		:"Both the FX Global and the UK Money Market Codes are voluntary, but drafted to encourage the broadest possible range of market participants to become involved by signing up to the statement of commitment.
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	==See also==		==See also==
	* [[Bank of England]]		* [[Bank of England]]
			* [[Financial Conduct Authority]] (FCA)
	* [[FX Global Code]]		* [[FX Global Code]]
	* [[NIPS Code]]		* [[NIPS Code]]
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	==Other ~~resource~~==		==Other resources==
			*[https://www.treasurers.org/hub/blog/uk-money-markets-code-june24 UK Money Markets Code Updated - James Winterton, associate policy and technical director at the Association of Corporate Treasurers - June 2024]
			*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code/the-uk-money-markets-code The UK Money Markets Code - Bank of England - June 2024]
			*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code/the-uk-money-markets-code-explanatory-notes The UK Money Markets Code: explanatory notes - Bank of England - June 2024]
			*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code The UK Money Markets Code & Money Markets Committee - Bank of England]

	*[~~https~~:~~//www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code The UK Money Markets Code & Money Markets Committee - Bank of England~~]		[[Category:Financial_products_and_markets]]

	[[Category:Financial_products_and_markets]]		[[Category:Financial_products_and_markets]]

Doug: Remove surplus link.

2024-06-05T14:44:30Z

Remove surplus link.

← Older revision		Revision as of 14:44, 5 June 2024
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	==Other ~~links~~==		==Other resource==
	~~[https://www.treasurers.org/codes Association of Corporate Treasurers (ACT) UK Money Markets Code resources]~~

	[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code The UK Money Markets Code & Money Markets Committee - Bank of England]		*[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code The UK Money Markets Code & Money Markets Committee - Bank of England]

	[[Category:Financial_products_and_markets]]		[[Category:Financial_products_and_markets]]

imported>Doug Williamson: Update.

2022-01-29T22:30:20Z

Update.

← Older revision		Revision as of 22:30, 29 January 2022
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	The UK Money Markets Code superseded previous guidance for participants in these markets provided by the NIPs Code, ~~the~~ Gilt Repo Code and ~~the~~ Securities Borrowing and Lending Code.		The UK Money Markets Code superseded previous guidance for participants in these markets provided by the former NIPs Code, Gilt Repo Code and Securities Borrowing and Lending Code.

imported>Doug Williamson: Update link.

2021-12-25T02:43:18Z

Update link.

← Older revision		Revision as of 02:43, 25 December 2021
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	[https://www.treasurers.org/codes Association of Corporate Treasurers (ACT) UK Money Markets Code resources]		[https://www.treasurers.org/codes Association of Corporate Treasurers (ACT) UK Money Markets Code resources]

	[~~http~~://www.bankofengland.co.uk/markets/~~Documents/~~money/code~~/ukmoneymarketscode.pdf~~ The UK Money Markets Code - Bank of England]		[https://www.bankofengland.co.uk/markets/money-markets-committee-and-uk-money-markets-code The UK Money Markets Code & Money Markets Committee - Bank of England]

	[[Category:Financial_products_and_markets]]		[[Category:Financial_products_and_markets]]

imported>Doug Williamson: Add category.

2020-10-08T14:10:23Z

Add category.

← Older revision		Revision as of 14:10, 8 October 2020
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	[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code - Bank of England]		[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code - Bank of England]

			[[Category:Financial_products_and_markets]]

imported>Doug Williamson: Add quote from The Treasurer, Nov-Dec 2017, p27.

2017-11-22T12:30:51Z

Add quote from The Treasurer, Nov-Dec 2017, p27.

← Older revision		Revision as of 12:30, 22 November 2017
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	The UK Money Markets Code is endorsed by the Bank of England's Money Markets Committee (MMC), comprised of market participants from a wide range of banks, other financial and non-financial institutions.		The UK Money Markets Code is endorsed by the Bank of England's Money Markets Committee (MMC), comprised of market participants from a wide range of banks, other financial and non-financial institutions.


			<span style="color:#4B0082">'''''Good practice as standard'''''</span>

			:"Both the FX Global and the UK Money Market Codes are voluntary, but drafted to encourage the broadest possible range of market participants to become involved by signing up to the statement of commitment.

			:The overarching principle of both of these codes is that market participants should strive for the highest ethical standards."

			:''The Treasurer magazine, November 2017, p27 - Sarah Boyce, associate policy and technical director at the Association of Corporate Treasurers.''

imported>Doug Williamson: Replace missing header

2017-10-03T08:11:56Z

Replace missing header

← Older revision		Revision as of 08:11, 3 October 2017
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			==Other links==
	[https://www.treasurers.org/codes Association of Corporate Treasurers (ACT) UK Money Markets Code resources]		[https://www.treasurers.org/codes Association of Corporate Treasurers (ACT) UK Money Markets Code resources]

	[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code - Bank of England]		[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code - Bank of England]

imported>Doug Williamson: Link with ACT UK Money Markets Code resources webpage.

2017-10-01T07:56:16Z

Link with ACT UK Money Markets Code resources webpage.

← Older revision		Revision as of 07:56, 1 October 2017
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	* [[Securities lending]]		* [[Securities lending]]


			[https://www.treasurers.org/codes Association of Corporate Treasurers (ACT) UK Money Markets Code resources]

	[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code - Bank of England]		[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code - Bank of England]

imported>Doug Williamson: Note Bank of England in link to Code text.

2017-06-29T10:23:55Z

Note Bank of England in link to Code text.

← Older revision		Revision as of 10:23, 29 June 2017
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	[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code]		[http://www.bankofengland.co.uk/markets/Documents/money/code/ukmoneymarketscode.pdf The UK Money Markets Code - Bank of England]