IAFEI Quarterly - 37th Issue

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LETTER OF THE CHIEF EDITOR
Dear Financial Executive,
You receive the IAFEI Quarterly XXXVIIth Issue.
This is another issue of the IAFEI Quarterly,
the electronic professional journal of IAFEI,
the International Association of Financial
Executives Institutes.
This journal, other than the IAFEI website, is
the internal ongoing professional information
tool of our association, destined to reach the
desk of each financial executive, or reach him,
her otherwise, at the discretion of the IAFEI
member institutes.
This issue is the SeventhOne under the regime
of the New Start for the IAFEI Quarterly. This
new start has been backed up by the IAFEI
Board of Directors decision of October 13,
2015, toestablishanEditorial Boardconsisting
of now 11 IAFEI representatives from all
continents.
There is intense discussion in world economic
politics about Free Open Trade, Globalisation
versusProtectionismandabout thechallenges
fromGlobalisation.
This Quarterly issue contains an article
by William C. Dudley, President and Chief
Executive Officer of the Federal Reserve
Bank of New York, USA, which gives valuable
guidance to and recommendable solutions to
this subject of world economic politics.
Upon an initiative of the world`s leading 16
Central Banksandwithcooperationbymarket
participants from around the globe, a Global
FX Code of Conduct has been established and
published in May, 2017. This Quarterly issue
contains apresentationof the Code byMr.Guy
Debelle, DeputyGovernor of the Reserve Bank
of Australia, who chaired the project.
Before release of the Code, drafts of the full
text of the Code were distributed tomarket
participants, including industry associations
as well as several IAFEI member associations,
for their review, to ensure all perspectives
were appropriately reflected in the Code.
The Global Code itself “does not impose legal
or regulatory obligations ... but rather is
intendedtoserveasasupplementtoanyandall
local laws, rules, and regulation by identifying
global good practices and processes”. For the
code itself see
Most articles of this Quarterly issue are from
inside IAFEI sources. But still: More IAFEI
member institutes should contribute articles.
Let us jointly strive for this to happen.
I repeat our ongoing invitation, to all IAFEI
member institutes, and to each of their
individual members, to send us articles for
inclusioninfutureIAFEIQuarterlies,andtoalso
sendtous your suggestions for improvements.
With best personal regards
Helmut Schnabel
Chief Editor
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