FX Global code register

What is the FX Global Code?
The foreign exchange (FX) market is the world’s biggest financial market and serves as an observation point for global trade and economic activity. The FX Global Code (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 16 jurisdictions around the globe.

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.

The Global Code does not impose legal or regulatory obligations on market participants, nor does it substitute for regulation, but rather it is intended to serve as a supplement to any and all local laws, rules and regulations by identifying global good practices and processes.

More information about the Global Code is available at the Global Foreign Exchange Committee (GFXC) website: www.globalfxc.org

Download a copy of the FX Global Code: www.globalfxc.org/docs/fx_global.pdf
What is a Statement of Commitment?
A well-functioning FX market is in the interest of all market participants and the broader community. The guidance provided through the Global Code applies to the everyday conduct of business in the foreign exchange market and will support the integrity and effectiveness of the market. The Global Code sets collective industry values for the market and reduces areas of potential uncertainty about market practice through many useful practical examples.

Widespread adoption of the FX Global Code (Global Code) across the diverse and broad spectrum of market participants will support the integrity and effective functioning of the foreign exchange market. Given the Global Code's voluntary nature it will only be effective in strengthening conduct standards if market participants embrace, adopt and adhere to it. 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.

The GFXC is supporting the development of public registers for market participants to post their Statement of Commitments. The public register, provided by the Australian Financial Markets Association and endorsed by ACI-Australia, facilitates market participants declaring their recognition of, and commitment to adopting the good practices set out in the Global Code. It also assists interested parties to identify market participants that have committed to the Code.

More information about Statements of Commitment and Public Registers is available at the Global Foreign Exchange Committee website: www.globalfxc.org

Download a standardised copy of the Statement of Commitment:
To whom does the FX Global Code apply?

The FX Market features a diverse set of participants who engage in the market in different ways and across various FX products. The Global Code is written with this diversity in mind and is expected to apply to all FX Market Participants that engage in the FX Market, including sell-side and buy-side entities, non-bank liquidity providers, operators of E-Trading Platforms, and other entities providing brokerage, execution, and settlement services. While there can be no universal “one size fits all” approach, given the diversity of the market, the Global Code is intended to establish a common set of guidelines for responsible participation in the market.

For the purposes of this register, a “Market Participant” is a person or organisation (regardless of legal form) that:
  1. is active in FX Markets as a regular part of its business and is engaged in the activity of the purchase or sale of one currency against another, or in transactions designed to result in gains or losses based upon the change in one or more FX rates, such as derivatives, whether deliverable or non-deliverable, either directly or indirectly through other market participants; or
  2. operates a facility, system, platform, or organisation through which participants have the ability to execute the type of transactions described in (1); or
  3. provides FX benchmark execution services; and
  4. is not considered a retail market participant in the relevant jurisdiction(s).

The term includes any personnel who conduct the foregoing on behalf of a Market Participant.

As a guide, the following types of persons or organisations would generally be expected to engage in FX Market activities as Market Participants, as described in 1 – 4 above:

  • Affirmation and/or settlement platform
  • Asset manager
  • Bank
  • Broker or investment adviser
  • Central bank
  • Corporate treasury department
  • E-trading platform
  • Government agency
  • Hedge fund
  • Infrastructure or technology provider
  • Insurance company
  • Non-bank liquidity provider
  • Other
  • Pension fund
  • Quasi-sovereign or supranational institution
  • Sovereign wealth fund

Any entity classified as an FX Market Participant in the relevant jurisdiction(s).

The universe of Market Participants is diverse in the type and level of engagement in the FX Market. The Global Code is expected to apply to all of these Market Participants, but the details of how it may apply can depend on their underlying activities. In practice, the steps that different Market Participants take to align their activities with the principles of the Global Code will reflect the size and complexity of the Market Participant’s FX Market activities, and the nature of the Market Participant’s engagement in the FX Market, and will take account of the law of their jurisdiction. Ultimately, the decision of what steps should be undertaken, and in what manner, resides with each Market Participant, reflecting an appropriate internal assessment.

How to submit a statement of commitment

To submit a Statement of Commitment to this Register, institutions need to download two documents:

  1. Registration Form

    An editable PDF version of the Registration form is available here – AFMA Statement of Commitment Registration Form

    When completing the Registration Form, market participants should:
    • Identify by name the institution covered by the Statement of Commitment. If the commitment covers several corporate entities with a group these should be separately named.
      • Provide a legal entity identifier (LEI). It is not essential to provide an LEI but providing one will give greater certainty to users of the Register in identifying an institution on the Register. An LEI should be provided for each named institution.
    • Identify what type of market participant the institution is. A list of market participant types can be found on the Registration form
    • Identify the geographical / jurisdictional scope covered by the Statement of Commitment. By default, all submitted Statements of Commitment will be assumed to have global coverage for registered institutions unless they are qualified by a geographical / jurisdictional limitation – this may be expressed in a way which is appropriate to the institution’s operations, such as by reference to global coverage, region or certain jurisdictions.
  2. The Statement of Commitment.

    An editable PDF version of the standardised Statement of Commitment is available here: https://www.globalfxc.org/docs/statement_of_commitment.pdf

    Institutions submitting a Statement of Commitment should note that:
    • The Global Foreign Exchange Committee will not recognise non-standardised Statements of Commitment.
    • The standardised Statement of Commitment requires the institution’s name and the date of signing.
    • The Statement of Commitment should be signed by a person with the appropriate authority to do so on behalf of the institution.

It is important for institutions to ensure that the information they have provided in their submission is correct. AFMA does not take any responsibility for verifying the information provided.

AFMA does not monitor for changes in the status of registered institutions. It is the responsibility of registered institutions to contact AFMA if there is any change in the information provided by them. In addition, it is the responsibility of registered institutions to inform AFMA if their circumstances change or if they wish their Statement of Commitment to be removed from the Register.

Completed Registration Forms and Statements of Commitment can be submitted to AFMA at [email protected]

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


AFMA supports the global principles of good practice in the FX Global Code. AFMA Members and non-members are invited to submit Statements of Commitment to AFMA’s public register without any costs to their organisation.


This Register is provided as public source of information for finding out whether an institution has committed to observing the FX Global Code. It is the sole responsibility of an institution registering its commitment to the FX Global Code to ensure its status on this Register accurately reflects its current circumstances. If a visitor to the Register wishes to verify or rely on the information shown here they should directly contact the relevant institution and make their own inquiries.

In providing this Register for public information AFMA and ACI Australia do not assume any responsibility for:

  1. Verifying that the information contained in the Register is accurate or reliably reflects the circumstances of a registered institution.,
  2. Monitoring compliance by the registered institutions with the FX Global Code.,
  3. Compliance by registered institutions with the laws, rules, and regulations applicable to them relating to the FX Market in each jurisdiction in which they do business

Search for a Registrant

Name LEI Date of Commitment Date of Registration Participant Type Disclosure Cover Sheet

Advanced Markets, Ltd.

549300BXBTDE4E4IRS06 30-May-2018 JUN-2018 Broker or investment adviser

AMP Capital Investors Limited

13-Dec-2017 JAN-2018 Asset manager

Argamon Markets Pty Ltd

2549002IV33Y1OTI7O73 03-Jan-2023 JAN-2023 Broker or investment adviser

Australia and New Zealand Banking Group Limited

20-May-2022 JAN-2018 Bank


AustralianSuper Pty Ltd

549300SDK641VC1FPE36 18-Nov-2019 NOV-2019 Pension fund

BNP Paribas

20-Dec-2018 FEB-2018 Bank

CIBC Capital Markets

29-Jun-2022 SEP-2022 Bank

Citi Institutional Client Group, Global Foreign Exchange and Local Markets

25-May-2017 JAN-2018 Bank

CLS Bank International

22-Jul-2017 JAN-2018 Infrastructure or technology provider

Commonwealth Bank of Australia (Global Markets and Treasury)

MSFSBD3QN1GSN7Q6C537 31-May-2022 JAN-2018 Bank


DBS Bank Ltd

ATUEL7OJR5057F2PV266 15-Jun-2022 MAR-2019 Bank


Deutsche Bank Aktiengesellschaft

7LTWFZYICNSX8D621K86 21-Sep-2022 MAY-2018 Bank

EBS (part of CME Group)

10-Jun-2022 MAY-2019 Broker or investment adviser

HSBC Holdings plc

29-Jun-2022 MAY-2018 Bank


lnvast Financial Services Pty Ltd

5493000REYLNWD2E9Y62 30-May-2018 MAY-2018 Broker or investment adviser

LMAX Exchange

21380034TU2TI8CNZ578 25-May-2017 MAY-2018 E-trading platform

Macquarie Bank Limited - Fixed Income and Currencies Division

4ZHCHI4KYZG2WVRT8631 26-Apr-2023 MAR-2018 Bank

Mizuho Bank Ltd

18-Mar-2022 JAN-2020 Bank

MUFG Bank, Ltd

C3GTMMZIHMY46P4OIX74 19-Mar-2018 MAR-2018 Bank

National Australia Bank Limited

05-Oct-2023 JAN-2018 Bank


Oversea-Chinese Banking Corporation Limited, Sydney Branch

30-Mar-2018 JUN-2018 Bank

Qantas Airways Ltd

20-Jan-2022 JUN-2019 Corporate treasury department


27-Jul-2022 JAN-2018 Asset manager

QSuper Limited

OE40RLQ75J24YY161R59 22-Nov-2021 APR-2020 Pension fund

Rand Merchant Bank - South Africa

ZAYQDKTCATIXF9OQY690 28-Oct-2022 OCT-2022 Bank


RBC Capital Markets and Investor & Treasury Services

30-Aug-2023 FEB-2018 Bank


Reserve Bank of Australia

21-Dec-2021 MAY-2018 Central bank

Saxo Capital Markets (Australia) Pty Ltd

13-Feb-2018 FEB-2018 E-trading platform

Sumitomo Mitsui Banking Corporation

5U0XI89JRFVHWIBS4F54 04-Oct-2022 JAN-2020 Bank

Suncorp-Metway Limited

JEBU6C61TPD2YZ9N7F22 13-Jun-2022 JUN-2018 Bank

TD Securities

PT3QB789TSUIDF371261 18-May-2018 JUN-2018 Bank


UBS Investment Bank

17-Feb-2022 JUL-2018 Bank


United Overseas Bank Limited - Sydney Branch

IO66REGK3RCBAMA8HR66 26-Mar-2018 JAN-2019 Bank

VicSuper Pty Ltd

549300EDUMECMQLVPX10 26-Sep-2019 SEP-2019 Pension fund

XTX Markets Limited

09-May-2022 FEB-2018 Non-bank liquidity provider


Westpac Banking Corporation

11-Aug-2022 JAN-2018 Bank