Strengthening Principles & Code of Conduct Standards in FX Markets
FX Global Code of Conduct
The Foreign Exchange Working Group (FXWG) was established in July 2015 by the Bank for International Settlements. The aim of the FXWG is to strengthen principles and code of conduct standards in foreign exchange markets.
The Global Code for the FX Market
The FXWG are working on developing a single set of global principles of good practice for the wholesale FX market. The final completed FX Global Code of Conduct is expected to be published in May 2017.
It should be noted that there is a diverse range of Market Participants that engages in the FX Market in a variety of ways and for different foreign exchange products. The FXWG are therefore writing the FX Global Code bearing this in mind and it is expected to apply to all Market Participants that engage in the Foreign Exchange Market. This includes both buy-side and sell-side entities, Trading Venue operators, non-bank liquidity providers and other entities that provide services such as brokerage, execution and settlement. Visit the following page onsite for more information on who will the FX Global Code apply to.