The document discusses the FX Global Code, which aims to promote integrity and effective functioning in the foreign exchange market through a set of principles of good practice. It was developed by central banks and market participants globally in response to scandals, and launched in 2017. The 55 principles cover ethics, governance, risk management, execution, and transparency. Adoption is voluntary but intended to be widespread. The document outlines the code's objectives and initiatives to promote adherence, as well as its adoption and impact in India.

1. FX Global Code -
Formation of a Single
Global Code of Conduct
for the Foreign Exchange
Market & Initiatives to
Promote Widespread
Adherence
FURQAN JAVEED SYED
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2. INTRODUCTION
TO THE FX
GLOBAL CODE
• A set of global principles of good practice for the foreign
exchange market.
• To promote a robust, fair, liquid, open, and transparent
foreign exchange market and to enhance the integrity
and effective functioning of the global FX market.
• Developed by central banks and market participants
from around the world, it was officially launched in May
2017.
• The code covers a wide range of topics, including ethical
behavior, governance, risk management, and execution
practices.
• The code is not legally binding, but it is intended to be
widely adopted by market participants as a means of
promoting adherence to high standards of conduct.
• The code aims to restore trust and confidence in the
foreign exchange market and promote fair and
transparent markets for all participants.
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3. Background of
the FX Global
Code
• The FX market scandals
• Impact of the scandals
• Need for a single global code of conduct
• Role of central banks and market
participants
• Timing of the code's launch
• Importance of the code in restoring trust
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4. PRINCIPLES
OF THE FX
GLOBAL
CODE
• The 55 principles
• Ethical Behaviour
• Governance
• Risk Management
• Execution
• Transparency and Fairness
• The principles are grouped into five categories
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5. OBJECTIVES OF THE FX
GLOBAL CODE
• Promoting a fair and transparent market
• Enhancing integrity
• Enhancing effective functioning
• Promoting robustness
• Promoting liquidity
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6. INITIATIVES TO PROMOTE
ADHERENCE
• Self-Disclosure
• Monitoring and Assessment
• Education and Training
• Regular Review and Updates
• Adherence of Central Banks and Regulators
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7. ADOPTION OF THE FX
GLOBAL CODE
• Global Adoption
• Central Banks
• Market Participants
• Transparency
• Adoption rate
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8. FX
GLOBAL
CODE IN
INDIA
• Adoption of the code
• Indian National Code of Conduct
• Monitoring and assessment
• Education and training
• Self-disclosure
• Importance of adherence
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9. IMPACT OF
THE FX
GLOBAL CODE
IN INDIA
• Transparency
• Fairness
• Risk Management
• Governance
• Integrity
• Effective functioning
• Trust and confidence

10. CONCLUSION
• The FX Global Code is an important initiative to
promote fair and transparent markets in India and
globally, and it's the responsibility of market
participants to adopt the principles and implement
them in their practices.
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11. Thank You
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