The European System of Central Banks (ESCB) has reaffirmed its commitment to the FX Global Code, which promotes integrity, fairness, transparency, and effective functioning in the global foreign exchange market.
Originally introduced in 2017 and updated in 2021 and December 2024, the Code sets out global principles of good market practice. Its latest update reflects ongoing changes in the FX market and continues to serve as the benchmark for ethical and professional standards.
All members of the ESCB – including the European Central Bank (ECB) – have renewed their Statements of Commitment to the Code, pledging to align their internal practices with its principles and to encourage wider adherence across the market.
The ESCB emphasized that well-functioning financial markets are essential for the effective transmission of monetary policy, benefiting the economy and the public at large.
EU central banks also called on all foreign exchange market participants within their jurisdictions to review the updated Code and renew their own commitments.
