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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 157 statement of commitment (as of 27 October 2023).


   
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)
StoneX Financial Ltd 29 Feb 2024 Hedge fund 29 Feb 2024
Wind Sabre Capital Limited 26 Feb 2024 Hedge fund 26 Feb 2024
RBC Capital Markets and RBC Investor Services 31 Aug 2023 Bank 19 Apr 2018
China Development Bank Hong Kong Branch 26 Jul 2023 Bank 26 Jul 2023
Cathay United Bank Company, Limited 03 Jul 2023 Bank 10 Sep 2018
Yuanta Commercial Bank, Co., Ltd. HK Branch 29 Jun 2023 Bank 28 Dec 2018
Euroclear Bank 26 Jun 2023 Bank 26 Jun 2023
Livi Bank Limited 26 Jun 2023 Bank 26 Jun 2023
Shizuoka Bank, Ltd. Hong Kong Branch 15 Jun 2023 Bank 15 Jun 2023
China Zheshang Bank Co., Ltd. (Hong Kong Branch) 14 Jun 2023 Bank 14 Jun 2023
Bank Of Singapore 09 Jun 2023 Bank 03 Oct 2018
State Bank of India, Hong Kong Branch 06 Jun 2023 Bank 07 Jun 2023
Tai Sang Bank Limited 06 Jun 2023 Bank 13 Jun 2023
Bank of America, N.A., Global Markets 01 Jun 2023 Bank 01 Jun 2023 Bank of America, N.A., Global Markets - liquidity provider disclosure cover sheet.pdf
Kasikornbank PCL, Hong Kong Branch 01 Jun 2023 Bank 20 Dec 2018
Philippine National Bank 01 Jun 2023 Bank 08 Jun 2023
Taipei Fubon Commercial Bank Co. Ltd. Hong Kong Branch 01 Jun 2023 Bank 26 Mar 2019
China Everbright Bank Co., Ltd., HK Branch 31 May 2023 Bank 18 May 2018
Chiyu Banking Corporation Limited 31 May 2023 Bank 05 Jun 2023
HDFC Bank Limited, Hong Kong Branch 31 May 2023 Bank 01 Jun 2023
PT. Bank Negara Indonesia (Persero) Tbk., HK 31 May 2023 Bank 01 Jun 2023
Public Bank (Hong Kong) Limited 31 May 2023 Bank 31 May 2023
ZA Bank Limited 31 May 2023 Bank 31 May 2023
BBVA S.A. 30 May 2023 Bank 22 Mar 2018
BNP Paribas 13 Mar 2023 Bank 01 Feb 2018
Credit Suisse 20 Dec 2022 Bank 25 May 2018 Credit Suisse liquidity provider disclosure cover sheet.pdf
UniCredit SpA 14 Dec 2022 Bank 13 Mar 2018
China Merchants Bank Co., Ltd., HK Branch 02 Dec 2022 Bank 16 Apr 2018
First Abu Dhabi Bank PJSC 02 Dec 2022 Bank 26 Jun 2018
Fusion Bank 30 Nov 2022 Bank 05 Dec 2022
Mashreqbank psc, Hong Kong Branch 30 Nov 2022 Bank 30 Nov 2022
Kookmin Bank, HK Branch 29 Nov 2022 Bank 01 Feb 2018
The Chiba Bank, Ltd., Hong Kong Branch 29 Nov 2022 Bank 24 Aug 2018
Indian Overseas Bank, Hong Kong Branch 24 Nov 2022 Bank 24 Nov 2022
Bank of Shanghai (Hong Kong) Limited 15 Nov 2022 Bank 08 Sep 2020
China Bohai Bank Co., Ltd. Hong Kong Branch 21 Oct 2022 Bank 21 Oct 2022
Korea Development Bank, Hong Kong Branch 20 Oct 2022 Bank 20 Oct 2022
ORIX Asia Limited 06 Oct 2022 Bank 24 Apr 2018
Deutsche Bank AG 21 Sep 2022 Bank 26 Sep 2022
Banque Pictet & Cie SA 08 Aug 2022 Bank 31 May 2023
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
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