A Paris-based financial markets association has said it will require its members to commit to an incoming global code of conduct designed to restore trust in the foreign exchange market.

The ACI Financial Markets Association said in a statement that committing to adhere to the standards will be a "prerequisite" for its members, meaning that more than 9,000 FX professionals - across investment banks, asset managers, exchanges and central banks - around the world will sign up immediately after the code is finalised in May.