Ethical Behaviour in the Financial Markets The ACI FMA Today Ethical Behaviour in the Financial Markets Deploying an Effective and Sustainable Adherence Framework in the Wholesale Financial Markets

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International FICC Trading by Country Does ACI FMA look like this? Is this a real opportunity for ACI? YES! How can we help ACI FMA to represent our membership opportunity? © ACI – The Financial Markets Association - Confidential

What are we doing on your behalf Assessing costs and cutting back where we are not seeing tangible deliverables for you (China) Actively involved in strategic projects to ensure we get the best ‘bang for buck’ and tangible growth for you (BOE/ELAC) Ensuring we are directly engaging with key decision makers globally (BIS and global code, Central Banks and regulators) Ensuring ACIFMA comments on serious issues in the public domain (newspapers/TV) drawing the attention of market leaders Developing a slick professional brand to the market through our ACI website login which allows members to access information specific to them: Learning, Membership and qualifications and Market information benefits online. Supporting the ACI USA and other expansion strategies © ACI – The Financial Markets Association - Confidential

What Institutions Need Now Codes recognized and supported by regulators and central banks around the world A strong and effective, sustainable adherence mechanism for all relevant staff To demonstrate support, leadership and proactive approach to the public and regulators Significant measurable, achievable and timely significant increase in market participants’ awareness An adherence framework that can sit alongside and reinforce appropriate codes of conduct Appropriate MIS for Boards, senior managers, and (where appropriate) regulators Culture change via embedded behavioral improvements, visible to clients and shareholders and public A solution to mitigate operational risk under Basle III © ACI – The Financial Markets Association

© ACI – The Financial Markets Association E-Learning and Certification (ELAC) is an interactive teaching and testing tool, focussing on the latest thinking on ethical conduct in the FICC markets © ACI – The Financial Markets Association

ELAC – E-Learning & Certification Allows individuals and their employers to learn, test, and monitor their understanding of Codes of Conduct, enabling sustainable adherence Provides interactive illustrative scenarios, and will be regularly updated to demonstrate how Codes of Conduct can be applied to specific situations in FX, money markets, and fixed income Feedback on knowledge and exam success to individual users, their supervisors and potentially the regulators, with specific MIS Contributions from industry participants ensure that the ELAC Portal is maintained as the regulatory requirements change, guaranteeing legitimacy across global markets and jurisdictions Agnostic framework without predetermined bias, and can sustain any code in any asset classes or jurisdiction © ACI – The Financial Markets Association - Confidential

ELAC provides access to relevant up- to-date Codes of Conduct With ELAC, financial market practitioners can learn, search, read, and adhere to all Codes of Conduct relevant to their industry sector, job role and experience level 24/7, and are notified when updates are published. © ACI – The Financial Markets Association

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