GFXC Request for Feedback on Amendments to the FX Global Code

Article
Article
3 min read
Date
28 May 2021
Author
CLS
Publication
CLS

The FX Global Code (the Code) is a set of principles of good practice in the FX market, aimed at providing guidance to promote its integrity and effective functioning. As part of a regular review cycle, the Global Foreign Exchange Committee (GFXC) is seeking input from market participants on several proposed amendments to the Code. 

We at CLS are supportive of the proposed amendments to the settlement risk principles of the FX Global Code, which rightly place greater emphasis on the use of PvP settlement mechanisms, where available. We also welcome the proposed amendments promoting the netting of settlement obligations, should PvP settlement mechanisms not be available.

Read our response to the GFXC’s request for feedback

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