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Rinku Das (Hazra)
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Global Foreign Exchange Committee (GFXC)

The Global Foreign Exchange Committee (GFXC) was established in May 2017 as a forum bringing together central banks and private sector participants with the aim to promote a robust, liquid, open, and appropriately transparent FX market in which a diverse set of participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available information and in a manner that conforms to acceptable standards of behaviour.


The objectives of the GFXC are:

to promote collaboration and communication among the local foreign exchange committees (FXCs) and non-GFXC jurisdictions with significant FX markets;
to exchange views on trends and developments in global FX markets, including on the structure and functioning of those markets, drawing on information gathered at the various FXCs; and
to promote, maintain and update on a regular basis the FX Global Code (the Code) and to consider good practices regarding effective mechanisms to support adherence.


Membership

Members of the GFXC include central bank-sponsored Foreign Exchange Committees and similar structures in various regions. Each member Foreign Exchange Committee designates a central bank and private sector representative for the GFXC. Members currently include:

Australia – The Australian Foreign Exchange Committee

Brazil – Foreign Exchange Committee

Canada – The Canadian Foreign Exchange Committee

China – China Foreign Exchange Committee

Euro Area- The Foreign Exchange Contact Group

Hong Kong – Treasury Markets Association

India – Foreign Exchange Committee

Japan – Tokyo Foreign Exchange Committee

Mexico – The Mexican Foreign Exchange Committee

Russia – Moscow Foreign Exchange Joint Standing Committee

Scandinavia – Foreign Exchange Committee

Singapore – The Singapore Foreign Exchange Market Committee

South Africa – South African Foreign Exchange Committee

South Korea – Seoul Foreign Exchange Committee

Switzerland – Swiss Foreign Exchange Committee

United Kingdom – Foreign Exchange Joint Standing Committee

United States – Foreign Exchange Committee

Associate Members representing jurisdictions which meet some but not all of the membership criteria include:

Georgia

Indonesia – Indonesian Foreign Exchange Market Committee

Israel