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
