Case studies

The FX Global Code (Code) is intended to establish a common set of guidelines for responsible participation in the foreign exchange market. While there can be no universal “one size fits all” approach, given the diversity of the foreign exchange market, the case studies provided below are intended to help market participants in their journey to endorse the Code and sign the Statement of Commitment. The case studies are a set of examples which illustrate companies’ various considerations and steps to adhere to the Code, particularly taking account of the Code’s proportionality concept. The stylised examples have been voluntarily provided by market participants and have been published for market participants to be able to draw inspiration and make use of the information in their own internal assessment.

The case studies are not intended as, nor should be interpreted as, binding or prescriptive instructions. Moreover, the examples are not intended to be exhaustive of the considerations that should be taken into account or the situations that can arise; in fact, it should be expressly understood that circumstances can and will vary for different institutions. Ultimately, the decision of what steps should be undertaken by a Market Participant to be in a position to endorse the Code and sign the Statement of Commitment, and in what manner, resides with each Market Participant, reflecting an appropriate self-assessment.