Singapore MAS Renews Statement of Commitment to Updated FX Global Code: Promote Robust, Fair, Liquid, Open & Appropriately Transparent FX market, High Ethical Standards
1st September 2022 | Singapore
Singapore central bank Monetary Authority of Singapore (MAS) has renewed its statement of commitment to the updated FX Global Code (Foreign Exchange), promoting a robust, fair, liquid, open & appropriately transparent FX market, underpinned by high ethical standards. Singapore MAS: “MAS strongly encourages all wholesale FX market participants in Singapore as well as all its counterparties to adhere to the latest version of the Code, in order to promote the integrity and effective functioning of the global FX market.” See info on FX Global Code below.
“ Singapore MAS Renews Statement of Commitment to Updated FX Global Code: Promote Robust, Fair, Liquid, Open & Appropriately Transparent FX market, High Ethical Standards “
FX Global Code
The FX Global Code July 2021 (Global Code) is a set of global principles of good practice in the foreign exchange market, developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. It was developed by a partnership between central banks and Market Participants from 20 jurisdictions around the globe. The purpose of the Global Code is to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour. The Global Code does not impose legal or regulatory obligations on Market Participants, nor does it substitute for regulation, but rather it is intended to serve as a supplement to any and all local laws, rules and regulations by identifying global good practices and processes.
- For more information on the Global Code, please see the Frequently Asked Questions.
- Read the Code education slides – “An introduction to the FX Global Code”
- Download the FX Global Code July 2021
The Global Foreign Exchange Committee was established in May 2017 as a forum bringing together central banks and private sector participants with the aim to promote a robust, fair, liquid, open, and appropriately transparent Foreign Exchange (FX) market in which a diverse set of participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available information and in a manner that conforms to acceptable standards of behaviour.
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