Key Principles of the FX Global Code and NICE Actimize Solutions
1. Accurate Information Sharing
- Principle: Market participants must ensure that employees communicate information that is accurate and truthful via channels such as voice, email, instant messaging, and chat.
- Solution: NICE Actimize's Communication Surveillance monitors and analyzes communications across multiple channels to detect and prevent the dissemination of inaccurate or misleading information.
2. Confidential Information Handling
- Principle: Employees should not share information that has not been made public, safeguarding confidential data.
- Solution: NICE Actimize's solutions monitor communications to detect unauthorized sharing of confidential information, ensuring compliance with confidentiality requirements.
3. Complete and Accurate Data Management
- Principle: Market participants are expected to ensure that all data communicated is complete and accurate.
- Solution: NICE Actimize's Communication Surveillance ensures that all communications are monitored for completeness and accuracy, reducing the risk of data misrepresentation.
4. Robust Compliance Monitoring
- Principle: Firms are expected to promote and maintain a robust control and compliance environment to effectively identify, measure, monitor, manage, and report on risks associated with their engagement in the FX market.
- Solution: NICE COMPASS provides comprehensive compliance assurance by facilitating rigorous monitoring of communication activities, ensuring adherence to regulatory demands and protecting the firm's reputation.