The FX Global Code

Driving a robust, fair, open, liquid, and appropriately transparent market. Integrity is the foundation of a professional market participant.

The FX Global Code - High ethical standards and good practice for the foreign exchange markets

The FX Global Code is a set of global principles of good practice in the foreign exchange market. It was developed by a partnership between central banks and market participants from 16 jurisdictions around the world. 

Siemens has played an active role in the development of the FX Global Code, and was one of the first corporates worldwide to endorse it. The purpose of the FX Global 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 behavior.


The six principles of the FX Global Code

As a global player Siemens has already in the past been acting according to its basic principles. Therefore Siemens is a natural member of the partnership between central banks and market participants around the globe driving the FX Global Code. It aims to promote standards and principles  fostering  the integrity and functioning of the wholesale foreign exchange markets (“FX Markets”).

The key principals are:

Ethics

Fairness in the FX Market should be promoted through ethical and professional behavior

Governance

Control of FX market activity should be maintained through an effective governance framework

Execution

Transactions should be negotiated and executed with integrity and care

Information Sharing

Communications should be accurate and clear and should defend confidential information

Risk Management and Compliance

Risks should be managed and reported maintaining a robust control and compliance environment

Confirmation and Settlement Process

Post-trade processes should promote the smooth and timely confirmation and settlement of FX transactions

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