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: