The Reserve Bank of Australia has updated foreign exchange traders about the international code of practice for their market.
RBA assistant governor for financial markets Christopher Kent used an address to the FX Markets Australia Virtual Conference on Friday to provide some certainty about governance and expectations.
Dr Kent chairs the Australian Foreign Exchange Committee which brings banks, brokers, asset managers, industry groups and policymakers together.
He says a consistent theme of the feedback is that the code is "fit for purpose and changes should only be made as necessary".
The tweaks made provide "greater disclosure and transparency in an increasingly complex market", including tackling the anonymous trading that undermines standards, Dr Kent said.
The central bank is also reviewing its own practices and will publish a new statement of commitment.
He urged all of the RBA's foreign exchange counterparties to do the same within 12 months.
