ACI FX GLOBAL CODE CERTIFICATE

According to the FX Global Code, the Code is a set of global principles of good practice in the foreign exchange market. It has been developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market (FX Market). It is intended to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.

This programme is designed for all Market Participants defined by the Global Code, including:

• Financial market participants across buy side, sell side and intermediary institutions
• Regulators and central banks
• Middle office and operations personnel
• Compliance and risk officers

Program Structure

• The program will consist of 6 sections each covering of a number of principles that support the leading principle in each section.
• Concepts in each of the principles will be cemented using practical examples and exam type questions during the session.
• Upon registration, delegates will receive a copy of the PowerPoint presentation together with a copy of the latest version of the FX Global Code.
• After completion of the code and upon registration for the exam, delegates will receive access to a number of mock exams to help prepare them for the exam
• A WhatsApp group will be created after the workshop where delegates can engage with the facilitator on areas of concern.

Introduction

Why the FX Global Code?

The Code is intended to promote a robust,fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.

Ethics

The ethical and professional behaviour of Market Participants underpins the fairness and integrity of the FX Market. The exercise of judgement is central to acting ethically and professionally, and Market Participants (meaning both firms and their personnel) should be guided in doing so by the high-level principles below, both when applying the specific guidance in the Global Code and at all times when participating in the FX Market.

Governance

Market Participants are expected to have a sound and effective governance framework to provide for clear responsibility for and comprehensive oversight of their FX Market activity and to promote responsible engagement in the FX Market.

Execution

Market Participants are expected to exercise care when negotiating and executing transactions in order to promote a robust, fair, open, liquid, and appropriately transparent FX Market.

Information Sharing

Market Participants are expected to be clear and accurate in their communications and to protect Confidential Information to promote effective communication that supports a robust, fair, open, liquid, and appropriately transparent FX Market.

Risk management and Compliance

Market Participants are expected to promote and maintain a robust control and compliance environment to effectively identify, manage, and report on the risks associated with their engagement in the FX Market.

Confirmation and Settlement Processes

Market Participants are expected to put in place robust, efficient, transparent, and risk-mitigating post-trade processes to promote the predictable, smooth, and timely settlement of transactions in the FX Market.