The FX Global Code
Driving a robust, fair, open, liquid and appropriately transparent market. Integrity is the foundation of a professional market participant.
High ethical standards for the foreign exchange markets
The FX Global Code is a set of global principles of good practice in the foreign exchange market. It was developed by a partnership between central banks and market participants from 16 jurisdictions around the world.
Siemens has played an active role in the development of the FX Global Code, and was one of the first corporates worldwide to endorse it. The purpose of the FX 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 behavior.
The six principles of the FX Global Code
Siemens is a natural member of the partnership between central banks and market participants around the globe driving the FX Global Code. It aims to promote standards and principles fostering the integrity and functioning of the wholesale foreign exchange - FX - markets.
Ethics
Fairness in the FX Market should be promoted through ethical and professional behavior
Governance
Control of FX market activity should be maintained through an effective governance framework
Execution
Transactions should be negotiated and executed with integrity and care
Information Sharing
Communications should be accurate and clear and should defend confidential information
Risk management & compliance
Risks should be managed and reported maintaining a robust control and compliance environment
Confirmation & settlement process
Post-trade processes should promote the smooth and timely confirmation and settlement of FX transactions