The Australian Financial Markets Association (AFMA) has launched a Public Register for Statements of Commitment to the FX Global Code (the Code) by participants in the wholesale Australian foreign exchange market.
The AFMA Register is supported by ACI Australia. AFMA and ACI Australia are currently accepting Statements of Commitment from market participants for uploading to the register.
The opening of the Register maintains Australia’s place at the leading edge of global developments in relation to good practice in wholesale foreign exchange markets.
The FX Global Code, launched in May 2017, provides a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. Regulators and central banks, including the Reserve Bank of Australia, have firmly encouraged wholesale market participants to sign a Statement of Commitment to demonstrate their intention to adhere to the Code.
The Global Foreign Exchange Committee (GFXC) is promoting the development of public registers for market participants to post their Statement of Commitments. The registers will facilitate market participants declaring their recognition of the Code and their commitment to adopt the practices set out in the Code. It will also assist interested parties in identifying market participants that have signed a Statement of Commitment.