UK Money Markets Code

UK markets - best practice

The UK Money Markets Code is voluntary.

It sets out the standards and best practice expected from participants in the UK's deposit, repo and securities lending markets.

The UK Money Markets Code superseded previous guidance for participants in these markets provided by the former NIPs Code, Gilt Repo Code and Securities Borrowing and Lending Code.

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.

Good practice as standard

"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.

See also

• Bank of England
• FX Global Code
• NIPS Code
• Repo
• Securities lending

Other resource

• The UK Money Markets Code & Money Markets Committee - Bank of England