The Riksbank supports the updated global code of conduct for the foreign exchange market
News Today, the Riksbank, together with the other central banks within the European System of Central Banks (ESCB), renewed its commitment to comply with the global code of conduct for the foreign exchange market, the FX Global Code. The code has been adapted to the changes that have taken place in the foreign exchange market in recent years. The FX Global Code promotes a robust, fair, liquid, open and appropriately transparent foreign exchange market.
Well-functioning financial markets benefit all market participants and it is important for central banks to ensure that monetary policy has the intended effect on the real economy in a smooth manner.
In 2018, the Riksbank signed the Statement of Commitment, which is part of the FX Global Code of Conduct. As a signatory to the Statement, the Riksbank supports and follows the Code's principles in procedures and processes. The Code has been updated in 2021 by the Global Foreign Exchange Committee (GFXC) to be relevant and keep pace with an evolving FX market. The Code will continue to set a standard for ethical and appropriate conduct in the FX market.