FX Global Code

GFXC Includes New Templates and Additional Guidance on Pre-Hedging

The Global Foreign Exchange Committee (GFXC) has updated the FX Global Code. The updates include changes to eleven of the fifty-five Code principles. The changes are summarized in a document titled “Outcomes of the 3-year Review of the FX Global Code.” The GFXC has also:

• published “templates for industry participants to use in improving disclosures and assisting with transaction cost analysis”;
• published guidance on pre-hedging;
• announced plans to publish “Disclosure Cover Sheet Templates” in August 2021, in an effort to “support Market Participants in meeting the range of disclosure and transparency principles within the Code.”

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