BI deems market code of ethics crucial for financial market credibility

The implementation of a market code of ethics is expected to mitigate various risks in the financial market arising from ethical violations and/or deviations in professional behaviour. Jakarta (ANTARA) - Bank Indonesia (BI) views the application of a market code of ethics by financial market participants as a crucial factor in efforts to maintain market credibility, efficiency in price formation, and investor confidence. This was stated by BI Deputy Governor Thomas A.M. Djiwandono during his support for the launch of the Book Market Code of Conduct (MCoC) Fifth Edition, published by the Indonesian Money Market and Foreign Exchange Market Association (APUVINDO) together with the Association Cambiste Internationale - Financial Markets Association (ACI FMA). Thomas, as per an official statement received in Jakarta on Friday, conveyed that the application of the code of ethics is increasingly important amid rising global uncertainties due to geopolitical pressures and global economic policy dynamics. “The implementation of the market code of ethics is expected to mitigate various risks in the financial market that arise from ethical violations and/or deviations in professional behaviour,” said Thomas. He added that the sustainability of economic growth greatly depends on efforts to deepen the financial market. “In line with that, as the market becomes deeper and more developed, strong support for the implementation of the code of ethics is needed to maintain integrity and confidence in market activities,” said Thomas. For information, through this MCoC or Brown Book Fifth Edition, Indonesia becomes the first country to adopt updates from the ACI FMA Handbook 2026 into domestic standards, in addition to the FX Global Code 2024 edition. As a reference for market participants, the ACI FMA Handbook 2026 contains main principles on market functions, personal conduct, operational preparedness, as well as the use of technology and security to ensure ethical, transparent, and safe transactions. The publication of the MCoC Fifth Edition is expected to serve as the primary reference for financial market participants in Indonesia in building and enforcing market ethics standards. BI also invites all market participants to implement this code of ethics consistently and accompanied by strong commitment. The synergy between authorities and market participants is expected to realise an active and competent money and foreign exchange market (PUVA) industry, in accordance with the targets of the Blueprint for Deepening the Money and Foreign Exchange Markets (BPPU) 2030.