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Strengthening Principles & Code of Conduct Standards in FX Markets

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Main Principles of the FX Global Code

The FX Global Code of Conduct for FX Market Participants is based upon six fundamental principles

“The Global Code will evolve, as required, over time as the FX Market evolves”

Phase 1: Material for Global FX Code May 2016, FXWG

FX Global Code Principle 1: Ethics

The behaviour of FX Market Participants is expected to be both ethical and professional, thus promoting both the fairness and integrity of the FX Market.

FX Global Code Principle 2: Governance

Robust and clear policies and procedures should be established by FX market Participants and they should have an organisational structure in place that promotes responsible market engagement.

FX Global Code Principle 3: Information Sharing

Communications from FX market Participants are expected to be both clear and accurate. In addition Market participants should protect Confidential Information. These efforts to promote effective communication will thus go towards supporting an FX Market that is robust, fair, open, liquid and appropriately transparent.

FX Global Code Principle 4: Execution

Care is expected to be exercised by FX Market Participants when negotiating and executing transactions and in dosing so, promoting a strong, fair, open, liquid and appropriately transparent Foreign Exchange Market.

FX Global Code Principle 5: Risk Management & Compliance

Participants in FX Markets are expected to both promote and to maintain a strong environment of compliance and control. One that effectively identifies, monitors, measures, manages and reports upon the risks associated with their participation in the Foreign Exchange Market.

FX Global Code Principle 6: Confirmation & Settlement Processes

Those participants within the FX Market are expected to put into place processes to promote the predictable, smooth and timely settlement of transactions within the FX Market. These processes should be risk-mitigating as well as transparent, efficient and robust.

Related Reading:

The Six Principles of the FX Global Code:

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