The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

FX global code registers to be live within months

The newly formed global FX committee will issue guidelines and maintain an index of registers, but they will be run by the private sector.

Public registers to identify those institutions adhering to the newly launched FX global code could become operational as soon as July, as pressure mounts on market participants to demonstrate their commitment to the 55 principles that were unveiled today.

Speaking at a press conference at the Bank of England in London, David Puth, chief executive of industry utility CLS, suggested his firm would look to set up a public register, which is one of the initiatives designed to promote adherence to the code. The 81-page document concludes with a short statement of commitment that all institutions active in FX are now being encouraged to sign, and registers would publicly name those that have done so.

“We will probably file to be a public register and be ready to do so at the beginning of July, or sometime early in the third quarter, but you should expect to see a broad set of market participants ready to sign the statement of commitment at that time,” said Puth, who chaired a broad-based panel of industry practitioners that has supported the development of the code over the last two years.


The Global Foreign Exchange Committee (GFXC), which met for the first time on Wednesday and will now take the lead in monitoring and maintaining the code, is expected to publish guidelines on what would constitute an effective register and will also maintain an index of registers, but it will be left to private-sector institutions such as CLS to operate them.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree