The Global FX Code (FXGC) was approved and endorsed at the Global Foreign Exchange Committee meeting held in London on 24 May 2017. 

The FXGC is a set of six 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 FX market.

•       It is intended to promote a robust, fair, liquid, open, and appropriately transparent  market;

•       For its elaboration, codes of conduct in several financial jurisdictions were taken into consideration.

The FX Global Code is voluntary in nature as it does not impose any regulatory or legal obligations.

•       As a principles-based document, firms must be primarily responsible for its implementation;

•       Still, it has been created with the idea of serving as a complement to local regulation and as a global reference document with regards to processes and good practices in the foreign exchange market. In any case, authorities should be able to hold market participants accountable for demonstrating sustained, observable compliance.

All market participants are expected to use the FXGC in the global foreign exchange market. They include: financial institutions, corporate investors, institutional investors, central banks, electronic trading platforms, and brokers, among others.

https://www.globalfxc.org/index.htm