FX Global Code

We have been actively engaged in the development of the FX Global Code. This section highlights our own commitment to the Code, how we support our clients in meeting its requirements as well as a public register for market participants' Statements of Commitment.

The FX Global Code is a set of global principles of good practice for the FX market. It provides a common set of guidelines to promote the integrity and effective functioning of this vital part of the global financial system, with a turnover of more than USD5 trillion a day.

The FX Global Code was developed through a partnership between central banks and market participants around the globe. Its purpose is to promote a robust, fair, liquid, open, and appropriately transparent market in which market participants can confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behavior.

The FX Global Code is intended to serve as a supplement to any and all local laws, rules and regulations by identifying global good practices and processes. The Code will be maintained and updated by a new Global Foreign Exchange Committee.

As a critical market infrastructure, we have been actively engaged in the development of the FX Global Code. David Puth, CEO of CLS, has been integral in his role as Chair of the Market Participants Group, and CLS representatives have participated in various regional Foreign Exchange Committees.