Regulatory Alerts2020-07-21 | 141/04Rule for electronic trading of FX using the Bloomberg trading system
The National Bank of Georgia issued this rule to establish mandatory unified terms for electronic foreign exchange trading via the Bloomberg platform for financial and non-financial legal entities. The regulation defines participant authorization, quote publication limits, and operational procedures for RFQ and BMatch transactions, including specific settlement protocols and penalty sanctions for delays or cancellations. It mandates that commercial banks and brokerage companies obtain NBG approval for broker codes and adhere to strict reporting and settlement timelines to ensure market integrity.
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