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AI’s Advance Has FX Market Asking Whether Governance Can Keep Up

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EXCLUSIVE AI’s Advance Has FX Market Asking Whether Governance Can Keep Up There’s a growing push to review guidelines for the $9.5 trillion-a-day currency market more often, to make sure they keep pace with artificial intelligence’s rapid advance. The Global Foreign Exchange Committee — the international body that coordinates FX market standards — currently updates its best-practice principles for the market once every three years. Representatives of the group and other market participants...

EXCLUSIVE AI’s Advance Has FX Market Asking Whether Governance Can Keep Up There’s a growing push to review guidelines for the $9.5 trillion-a-day currency market more often, to make sure they keep pace with artificial intelligence’s rapid advance. The Global Foreign Exchange Committee — the international body that coordinates FX market standards — currently updates its best-practice principles for the market once every three years. Representatives of the group and other market participants are debating whether to increase the frequency of reviews for potential technology-related risks, according to people familiar with the matter.
AI (ORG) The Global Foreign Exchange Committee (ORG) FX (ORG)
Originally published by Bloomberg Markets Read original →