The Global FX Committee has updated the FX Global Code today.
After months of intense work by the Global Foreign Exchange Committee (GFXC), ACI FMA is pleased to inform you that the updated version of the FX Global Code has been published today on the GFXC’s website.
The original version of this Code was published in May 2017 and was, subsequently, updated in August 2018. The updated version, which is now released, has been long-awaited, as its publication was originally estimated for 2020 but was delayed due to the impact of the COVID-19 pandemic.
The FX Global Code continues to be an important set of global principles of good practice in the FX Market, which have been developed with the aim to provide a common set of guidelines to promote its integrity and effective functioning.
This updated version contains changes to 11 of its 55 principles. The GFXC also took the opportunity to publish new templates for disclosures and a guidance report on pre-hedging practices, following the two Requests for Feedback released by the GFXC in April and May 2021 (to which ACI FMA was happy to submit its views resulting from the contributions of our members that voluntarily worked towards this objective).
ACI FMA has always been determined to support the efforts of the GFXC to promote implementation and adherence to the FX Global Code, as we believe its guidelines promote a robust, fair, liquid, open and appropriately transparent FX Market.
Therefore, our Association is already working on the development of its education tools so they can be quickly adapted to align with this updated version of the Code. We are currently updating the content of our ELAC platform (for training and attestation on industry Codes), with particular emphasis on the Cases and Questions available for users of this tool which are being updated to the new version of the FX Global Code.
In addition, we are updating the Questions of our ACI Online FX Global Code Exam (online version in English) and our ACI FX Global Code Certificate Exam (test centre version in English), so that candidates all over the world can soon be tested to the new content of the Code.
ACI FMA is extremely pleased with the new version of the FX Global Code that has been published today. As our members are longstanding proponents and influencers of ethical conduct and good market practices, ACI FMA continues to create synergies that help expand our expertise and the usage of our education products globally, as we firmly believe they reinforce the knowledge and competence of all financial market professionals.
Please click on the following link to access the GFXC’s Press Release:
Please click on the following link to access the updated version of the FX Global Code: