The code is a single set of global principles which define good practice for the wholesale FX market.
ANZ Managing Director Markets Shayne Collins said: “The new code marks an important milestone and a positive step forward for the FX industry; it clearly defines the standards required and clear lines of responsibility for all FX market participants.
“One of the first banks globally to move to the higher standards, ANZ has been an early adopter of the principles. We are committed to being fully compliant within 12 months, in line with last night’s announcement,” Mr Collins said.
This initiative has been further endorsed by both the Reserve Bank of Australia and the Australian FX Committee.