In May 2017, the Global Foreign Exchange Committee (GFXC) published the FX Global Code. This document is a set of global principles of good practice, developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale FX market. As a member of the GFXC, and as an active participant in the development of the FX Global Code, the FXC has adopted the principles of the FX Global Code and in light of this has not revisited its prior market practices and best practices, but continues to make them available for historical reference below.
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Reference Documents
Foreign Exchange Transactions: Execution to Settlement Recommendations for Non-Dealer Participants
January 2016
Intermediated FX Prime Brokerage Arrangements: Illustrative Implementation Steps and Best Practices ("IISBP")
July 29, 2014
Best Practices for Designation of Covered PB Counterparties
September 30, 2013
Management of Operational Risk in Foreign Exchange - Sixty Best Practices
May 29, 2013
Swap Trading Relationship Market Practice for Relevant Foreign Exchange Transactions
May 22, 2013
PB Protocol PB Notice to ED Market Practice
May 8, 2013
Foreign Exchange Prime Brokerage Reporting Obligations
February 15, 2013
Guidelines for Foreign Exchange Trading Activities
November 2010
Autodealing: Market Impact and Best Practice Recommendations
June 19, 2006
Foreign Exchange Prime Brokerage: Product Overview and Best Practice Recommendations
December 19, 2005
Supplementary Guidance for Market Disruptions
November 23, 2001
Barrier Options: New Best Practices
February 17, 2000
Guidelines for Foreign Exchange Settlement Netting
January 1997
FX Committee Letter on Historical Rate Rollovers: A Dangerous Practice
December 26, 1991
Archived Documents
Letter on Best Practice Guidance of Payment-versus-Payment Settlement Services
November 22, 2010
Guidelines for Foreign Exchange Trading Activities
May 2008
Letter regarding the retail foreign exchange market
December 9, 2005
Letter regarding the practice of issuing authorization letters
July 14, 2005
Foreign Exchange Transaction Processing: Execution-to-Settlement Recommendations for Nondealer Participants
November 8, 2004
Management of Operational Risk in Foreign Exchange - Sixty Best Practices
November 5, 2004
Guidelines for Foreign Exchange Trading Activities
July 2004
2004 Changes to the Guidelines for Foreign Exchange Trading Activities
July 13, 2004
FXC Addresses Letter to Market Participants Regarding the Practice of Issuing Authorization Letters
February 23, 2004
FXC and SFEMC Address Joint Letter to Market Participants Regarding Risks Associated with Trading on an Unnamed Basis
February 17, 2004
2002 Changes to the Guidelines for Foreign Exchange Trading Activities
October 30, 2002
Contingency Planning: Issues and Recommendations
November 15, 2001
Guidelines for Foreign Exchange Trading Activities
September 2001
Foreign Exchange Transaction Processing: Execution to Settlement: Recommendations for Nondealer Participants
October 1999
Y2K: Best Practice in the Foreign Exchange Market
October 18, 1999
Best Practices for the Barrier Option Market
October 7, 1999
Managing Operational Risks in Collateralized Foreign Exchange
September 25, 1997
Management of Operational Risks in Foreign Exchange, "The 50 Best Practices"
April 1996
Principles and Practices for Wholesale Market Transactions
August 17, 1995