The European Central Bank (ECB) invites foreign exchange trading counterparties to publicly commit to the principles set out in the FX Global Code by endorsing the Statement of Commitment annexed to that code of conduct by the end of May 2018. Counterparties are also encouraged

to reaffirm their commitment to those principles after any substantial future update of the FX Global Code.

The FX Global Code is a set of global principles of good practice in foreign exchange markets, developed by central banks and market participants from 16 jurisdictions around the globe in order to promote a robust, fair, liquid, open and appropriately transparent market.

The ECB, which reaffirms its own intention to commit to the FX Global Code when participating in the foreign exchange market, has also decided to make membership of its Foreign Exchange Contact Group (FXCG) contingent on adherence to those principles. FXCG members will be required to demonstrate their institutions’ commitment to the FX Global Code, in line with the FXCG’s updated Terms of Reference.