文章基本信息

标题：FX Global Code -- Formulation of a Single Global Code of Conduct for the Foreign Exchange Market and Initiatives to Promote Widespread Adherence --
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作者：Tetsuro Matsushima ; Masao Fujiwara ; Hirotaka Inoue 等
期刊名称：Bank of Japan Review
出版年度：2017
卷号：2017
出版社：Bank of Japan
摘要：Misconduct in overseas foreign exchange (FX) markets that came to light in 2013 led to increasedrecognition of the importance of enhancing discipline in the global FX market. Beginning in 2015, theForeign Exchange Working Group (FXWG), under auspice of the Bank for International Settlements(BIS) Markets Committee, undertook the formulation of a single global code of conduct for the FXmarket. After a two-year initiative, the final FX Global Code (Global Code) was published on May 25,2017. The Global Code, expected to apply to all wholesale FX market participants, strengthensdiscipline in various areas of market participants' FX activities, and provides a variety of mechanisms topromote voluntary adherence by market participants. For the FX market to function smoothly, the Bankof Japan expects adherence to the Global Code by a wide range of market participants, and willcontinue to work closely with other central banks and private market participants to support initiatives toensure the soundness of the FX market.