ACI concerns on latest financial market developments
(Thomson Reuters ONE) -
ACI The Financial Markets Association concerns on latest financial market
developments
ACI The Financial Markets Association discussed amongst its European members the
actual situation of the European financial markets.
ACI International stresses that in these difficult markets, the role of traders
remains essential in distributing liquidity amongst financial market
participants and the wider economy. Nevertheless ACI is concerned on the
increased pressure sustained by a number of peripheral EMU countries in the
Capital Markets and on their credit rating/fiscal position.
In line with the provisions of our International Model Code, ACI was never
supportive of speculation against economies and will not do so now. In this
respect ACI recalls for a responsible use of Sovereign CDS (Credit Default
Swaps), particularly in such exceptional days. Considering the current delicate
environment of the financial markets, the use of such instruments should mainly
be as a pure hedging instruments to cover own positions or of own customers,
rather than being used as pure speculation against economies or governments.
As ACI we reiterate the fact that we remain focused on transparency and
relevance between our trades and the macro-economic context, for all financial
products. Nevertheless, ACI does not see any risk of a dislocation of the Euro
currency now but also not in the future.
Through our Model Code (the Code of Ethics) and the Education program we ensure
that market participants maintain the highest standards in terms of behavior and
ethics.
Members of ACI are in a large part engaged within the financial trading or sales
environment in the global financial markets representing the Foreign Exchange
Interest Rate Products and other Securities, Banknotes & Bullions, Precious
metals and Commodities and their various kinds of Derivatives. ACI is a
leading global association of wholesales financial market professionals. ACI
counts some 13,000 international members in more than 60 countries.
ACI - The Financial Markets Association
8 rue du Mail, F-75002 Paris
T : +33 (0) 1 4297 5539
F : +33 (0) 1 4297 5116
managingdirector(at)aciforex.org
www.aciforex.org
[HUG#1415274]
Datum: 12.05.2010 - 13:21 Uhr
Sprache: Deutsch
News-ID 20809
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