The EACT launches a register for corporates adhering to the FX Global Code

The European Association of Corporate Treasurers (EACT) has today launched a register for corporates adhering to the FX Global Code (Code). Since its drafting phases, the EACT has supported the Code, which is a set of global principles of good practice in the foreign exchange market published in May 2017. The purpose of the Code is to promote a robust, fair, liquid, open, and appropriately transparent market for all market participants. The Code provides a common set of principles to promote the integrity and effective functioning of the wholesale foreign exchange market. The Code covers areas such as ethical behavior, governance, execution, information sharing, risk management and confirmation and settlement processes. Adherence to the Code applies in a proportionate manner to different types of market participants, depending on the type of participant and the complexity of their operations and their engagement with the FX market.

The EACT’s register is intended for corporate treasury departments that are participating in FX markets as end-users. The EACT register is included in the Global Index of Public Registers.

EACT Chair Jean-Marc Servat, said:

The FX Global Code is a very positive initiative aiming at ensuring fair and transparent FX markets that benefit all participants, including corporate endusers. We believe that a widespread adherence to the Code and its principles can truly help improve the functioning of FX markets and prevent some of the dysfunctions of the past. We therefore encourage corporate treasury departments to familiarise themselves with the Code’s principles and to adhere to it, as well as to prompt their banking partners to adhere to the Code. The EACT welcomes corporations to post their Statements of Commitment on its register to demonstrate their adherence and support to good practices in the FX market.

The EACT FX Global Code Register is available here.
More information on the Code can be found here.

 

For more information please contact:

EACT Chair:
Jean-Marc Servat
jean-marc.servat@eact.eu
+33 6 75 97 76 90

EACT Senior Policy Advisor
Anni Mykkänen
anni.mykkanen@eact.eu
+32 474 74 67 48

View Document

News


EACT Briefing Focus: Trade Finance Innovation

Photo from EACT Briefing Focus: Trade Finance Innovation

Trade Finance Innovation is a key topic for corporate treasurers. Recent decades have seen radical changes in the way we deal, shop, hedge, lend and pay, for example. Why shouldn't Trade Finance also deliver its full potential of transformation?

View More

EACT responds to European Commission consultation on implementing the final Basel III reforms in the EU

Photo from EACT responds to European Commission consultation on implementing the final Basel III reforms in the EU

The EACT is grateful for the opportunity to respond to this consultation on the implementation of the final Basel agreement in the EU. Read our position here.

View More

EACT responds to ESMA consultation on review of the Market Abuse Regulation and potential extension of its scope to FX spot markets

Photo from EACT responds to ESMA consultation on review of the Market Abuse Regulation and potential extension of its scope to FX spot markets

View the EACT's responses to the questions asked in the Consultation Paper on the MAR review report, published on the ESMA website.

View More

EACT Newsletter - December 2019

Photo from EACT Newsletter - December 2019

The latest issue features updates on what the new EU policy cycle for 2019-2024 will likely hold in store for financial services and corporate treasury, as well as event updates from various national associations.

View More

EACT Newsletter - October 2019

Photo from EACT Newsletter - October 2019

The latest issue features updates on the new Journeys to Treasury report, EURIBOR and EONIA benchmarks and how to benefit from the EMIR Refit.

View More