Market Standards and Codes of Conduct

FICC Markets Standard Board (FMSB)

Lloyds Banking Group is a member of Fixed Income, Commodity and Currency (FICC) Markets Standard Board and acknowledges the Standards produced by the FMSB generally recognise good practise in the wholesale FICC Markets.

Lloyds Banking Group confirms that it is committed to conduct its FICC market activities (its “Activities”) in a manner consistent with the Core Principles contained in FMSB Standards, and to have internal policies, procedures and controls reasonably designed to give effect to those Core Principles where they are applicable to its Activities, in a manner that is commensurate with the nature of its Activities in the relevant entity or jurisdiction.

This statement of commitment applies to all Standards published by the FMSB in final form, as follows:

  • Binary Options for the Commodity Markets
  • Reference Price Transaction (RPT) for the Fixed Income Markets
  • New Issue Process
  • Risk Management Transactions for New Issuance standard for the Fixed Income markets

More information can be found on the FMSB website

Market Codes

Lloyds Bank has reviewed the content of the UK Money Market Code (“Code”) and acknowledges that the Code represents a set of principles generally recognised as good market practice in the UK Money Markets. Lloyds Bank confirms that it is a UK Market Participant as defined by the Code, and is committed to conducting its UK Money Markets activities in adherence with the principles of the Code. Lloyds Bank has established and implemented policies and procedures that accord with the Code (as far as the content does not conflict with applicable law). Senior management will review our policies and procedures regularly to ensure their continued relevance and effectiveness.

Statement of commitment to the global precious metals code

Lloyds Bank has reviewed the content of the Precious Metals Global Code (“Code”) and acknowledges that the Code represents a set of principles generally recognised as good practice in the wholesale Precious Metals Market (“Market”). The Institution confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its Market activities (“Activities”) in a manner consistent with the principles of the Code. To this end, the Institution has taken appropriate steps, based on the size and complexity of its Activities, and the nature of its engagement in the Market, to align its Activities with the principles of the Code.

Statement of commitment to the FX global code

Lloyds Bank Commercial Banking and Lloyds Bank Corporate Markets have reviewed the content of the FX Global Code (“Code”) and acknowledges that the Code represents a set of principles generally recognised as good practice in the wholesale foreign exchange market (“FX Market”). The Institution confirms that it acts as a Market Participant as defined by the Code, and is committed to conducting its FX Market activities (“Activities”) in a manner consistent with the principles of the Code. To this end, the Institution has taken appropriate steps, based on the size and complexity of its Activities, and the nature of its engagement in the FX Market, to align its Activities with the principles of the Code.

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