The Bank of France has published a statement renewing its commitment to the FX Global Code, the voluntary global code of conduct for participants in the wholesale foreign exchange market. It also underlined that central banks in the European System of Central Banks have reaffirmed their support for the Code, and that the Bank of France will continue promoting it to market participants. The FX Global Code sets out good practices intended to support a robust, fair and transparent FX market, covering ethics, governance, order execution, confirmation and settlement, information sharing and risk management. First published in May 2017 and updated in July 2021, it was further revised in December 2024 following a second triennial review to reflect evolving market structures and practices, including strengthened approaches to managing settlement risk and improved market transparency.
Bank of France 2025-10-09
Bank of France renews commitment to the FX Global Code, citing 2024 revisions on settlement risk and transparency
The Bank of France has reaffirmed its commitment to the FX Global Code, a voluntary conduct code for the wholesale foreign exchange market. It emphasized the continued support from central banks within the European System of Central Banks and its ongoing promotion of the Code to market participants. The FX Global Code, revised in December 2024, outlines best practices for a robust and transparent FX market.