Dealers have been too slow to adopt standardised codes for rejected foreign exchange trades, according to a senior buy-side trader, who also called on trading venues to help accelerate industry take-up.
Last year, the FIX Trading Committee published a set of recommended practices on scenarios for rejected trades and adopted the Investment Association’s proposal of a standardised set of reject codes within its FIX Protocol – the main messaging language used by FX dealers.
“There’s appetite in the
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