FX Global Code

INTRODUCTION

The FX Global Code is a set of principles of good practice for foreign exchange market participants. It aims to promote the integrity and effective functioning of the wholesale foreign exchange market. The Global Code was developed by the Foreign Exchange Working Group, a collaborative initiative between central banks and private sector market participants under the auspices of the Markets Committee.

The purpose of the Code is to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.

The Code does not impose legal or regulatory obligations on Market Participants, nor does it substitute for regulation, but rather it is intended to serve as a supplement to any and all local laws, rules and regulations by identifying global good practices and processes.