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FX Global Code


The FX 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, including the Hong Kong Monetary Authority and the Treasury Markets Association (TMA). 

 

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.

 

 

Statement of Commitment


A standardised "Statement of Commitment" is available by which market participants can demonstrate their recognition of, and commitment to adopting the good practices set forth in the FX Global Code.

 

For further information on FX Global Code and Statement of Commitment, please visit www.globalfxc.org.


For Global Index of Registers, please visit https://www.globalfxc.org/global_index.htm.

 


Public Register


The TMA is hosting a public register for market participants in Hong Kong to make their Statement of Commitment public.  Not limited to members of the TMA, the public register welcomes Statement of Commitment from all relevant market participants as defined by the FX Global Code in the Hong Kong market.  The TMA does not assume responsibility for (a) verifying the accuracy or validity of a market participant’s Statement of Commitment, (b) monitoring adherence to the Code by market participants listed in the register, or (c) verifying whether market participants are within the defined scope of market participants covered by the public register.

 

Market participants can make a request to the TMA for (i) listing their signed Statement of Commitment (in PDF format) on the public register, (ii) updating their Statement of Commitment on the public register, and (iii) removing their Statement of Commitment from the public register.  Market participants should use fxglobalcode@tma.org.hk to make such requests, and the processing time would be around 3 to 5 business days.  General enquiry about the public register should also be emailed to fxglobalcode@tma.org.hk.



How frequently should a Market Participant review/renew their Statement? 

The nature of an institution's business may change over time. Institutions that register a Statement of Commitment should consider what steps they will take to review their activities for alignment with the FX Global Code's principles. The steps taken should reflect the size and complexity of the institution's FX Market activities, and the nature of its engagement in the FX Market. Whereas some institutions may consider setting a regular schedule for review, others may vary their approach based on how their business changes over time.

It is anticipated that the FX Global Code will be updated from time to time to reflect emerging issues, changes in the FX Market, and feedback from market participants and others. Upon publication of future updates to the FX Global Code, institutions that have committed should consider renewing their Statement having regard to the nature of those updates, as well as the size and complexity of their FX Market activities, and the nature of their engagement in the FX Market. Upon renewing a Statement of Commitment a commitment to an earlier version of the FX Global Code will be removed from the Register.

There are currently 133 statement of commitment (as of 18 Jul 2022).


   
Search criteria
Market participant name Market participant type
Market participant nameStatement dateMarket participant typeAdmission date to the registerDisclosure cover sheets (for liquidity providers and FX platforms)
JPMorgan Chase & Co. 29 Jul 2022 Bank 04 Apr 2018 Click Here
Bank of New York Mellon 26 Jul 2022 Bank 29 May 2018
Goldman Sachs Group, Inc. 25 Jul 2022 Bank 30 May 2018
CMB Wing Lung Bank Limited 15 Jul 2022 Bank 08 Jul 2019
Fubon Bank (Hong Kong) Limited 15 Jul 2022 Bank 12 Apr 2018
Nanyang Commercial Bank Limited 15 Jul 2022 Bank 31 May 2018
Natixis Hong Kong Branch 15 Jul 2022 Bank 13 Jun 2018
O-Bank Co., Ltd. Hong Kong Branch 15 Jul 2022 Bank 30 Jul 2018
Ping An Bank Co., Ltd., Hong Kong Branch 15 Jul 2022 Bank 15 Jul 2022
The Chugoku Bank, Ltd. 15 Jul 2022 Bank 28 Dec 2018
Chong Hing Bank Limited 14 Jul 2022 Bank 14 Jul 2022
Industrial Bank Company Limited, HK Branch 14 Jul 2022 Bank 21 May 2018
ING FM Global Foreign Exchange 14 Jul 2022 Bank 29 Mar 2018
Intesa Sanpaolo S.p.A. Hong Kong Branch 14 Jul 2022 Bank 12 Apr 2019
Mitsubishi UFJ Trust & Banking Corporation, Hong Kong Branch 14 Jul 2022 Bank 25 May 2018
Taiwan Business Bank, Ltd. Hong Kong Branch 14 Jul 2022 Bank 31 May 2018
United Overseas Bank Limited Hong Kong Branch 14 Jul 2022 Bank 13 Apr 2018
Cathay United Bank Company, Limited 13 Jul 2022 Bank 10 Sep 2018
Credit Agricole Corporate and Investment Bank 13 Jul 2022 Bank 18 Apr 2018
Hong Kong Monetary Authority 13 Jul 2022 Central bank 28 May 2018
Hong Leong Bank Berhad, Hong Kong Branch 13 Jul 2022 Bank 13 Jul 2022
UCO Bank Hong Kong 13 Jul 2022 Bank 15 Jul 2022
China Construction Bank (Asia) Corporation Limited 12 Jul 2022 Bank 21 May 2018
China Construction Bank Corporation, Hong Kong Branch 12 Jul 2022 Bank 21 May 2018
CTBC Bank Co., Ltd. (Hong Kong) 12 Jul 2022 Bank 10 Jul 2018
Malayan Banking Berhad Hong Kong Branch 12 Jul 2022 Bank 17 May 2018
Shanghai Pudong Development Bank Hong Kong Branch 12 Jul 2022 Bank 15 May 2018
China Guangfa Bank Co., Ltd Hong Kong Branch 11 Jul 2022 Bank 15 Jul 2022
Mega International Commercial Bank Co., Ltd. Hong Kong Branch 11 Jul 2022 Bank 14 May 2018
Union Bancaire Privée, UBP SA Hong Kong Branch 11 Jul 2022 Bank 14 Apr 2020
Bank of Communications (Hong Kong) Limited 08 Jul 2022 Bank 31 May 2018
Bank of Communications Co., Ltd. Hong Kong Branch 08 Jul 2022 Bank 31 May 2018
East West Bank Hong Kong Branch 08 Jul 2022 Bank 02 Nov 2017
Bank of China (Hong Kong) Limited 07 Jul 2022 Bank 21 Jun 2018
Wells Fargo 07 Jul 2022 Bank 31 May 2018
ICICI Bank, Hong Kong Branch 06 Jul 2022 Bank 09 Mar 2018
Shinhan Bank, Hong Kong Branch 05 Jul 2022 Bank 13 Jun 2018
PT Bank Mandiri (Persero) Tbk, HK Branch 04 Jul 2022 Bank 04 Jul 2022
Sumitomo Mitsui Banking Corporation, Hong Kong Branch 04 Jul 2022 Bank 31 May 2018
RBC Capital Markets and Investor & Treasury Services 01 Jul 2022 Bank 19 Apr 2018
Scotiabank GBM, Global Foreign Exchange 01 Jul 2022 Bank 05 Jul 2022
Barclays Bank PLC 30 Jun 2022 Bank 28 Mar 2018 Barclays Bank PLC Liquidity Provider Disclosure Cover Sheet.pdf
China CITIC Bank International Limited 30 Jun 2022 Bank 28 May 2018
National Australia Bank Limited 30 Jun 2022 Bank 19 Mar 2018
Shanghai Commercial Bank Limited 30 Jun 2022 Bank 31 May 2018
CIBC Capital Markets 29 Jun 2022 Bank 12 Jul 2022
Hang Seng Bank Limited 29 Jun 2022 Bank 13 Jul 2022 Click Here
The Hongkong and Shanghai Banking Corporation Limited 29 Jun 2022 Bank 12 Jul 2022 Click Here
Bank of India, Hong Kong Branch 28 Jun 2022 Bank 28 Jun 2022
OCBC Bank Hong Kong Branch 28 Jun 2022 Bank 04 Jul 2022
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