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The former Non-Investment Products Code.

The NIPS code has now been superseded.

The successor codes are the FX Global Code and the UK Money Markets Code.

The former NIPS code covered standards, controls and dealing mandates in the UK's wholesale financial markets.

Its scope included wholesale markets in:

  • Sterling wholesale deposits;
  • Foreign currency wholesale deposits;
  • Gold and silver bullion wholesale deposits;
  • Spot and forward foreign exchange; and
  • Spot and forward gold and silver bullion.

See also