The code spans 55 principles in all, related to
- Ethics – promoting fairness and integrity
- Governance – promoting clear responsibilities and oversight of FX activities
- Execution – promoting care when negotiating and executing orders
- Information sharing – promoting concise and accurate communication and protecting confidential information
- Risk and Compliance – promoting a robust control and compliance environment and
- Confirmation and Settlement – promoting a predictable, smooth and timely settlement of orders
Global Head of Currencies, Karl Niklas Kalsson says "Danske Bank welcomes the initiative of the FX Global Code. We fully support the principles which set good and fair practices for all market participants.”
About the code
The FX Global Code was initiated by the Basel Committee and developed in a partnership between central banks and market participants from 16 jurisdictions around the globe.
It was launched in May 2017 and has the intention to become an integral part of the wholesale foreign exchange market globally. Going forward, the code will be maintained and updated by a Global Foreign Exchange Committee.
Find the FX Global Code here.