FX code of conduct More broadly in terms of improving market conduct, in May this year, the BIS Governors commissioned a working group of the Markets Committee of the BIS to facilitate the establishment of a single global code of conduct for the FX market and to come up with mechanisms to promote greater adherence to the code.
4 I am chairing this work, with Simon Potter of the New York Fed leading the work on developing the code and Chris Salmon of the Bank of England leading the adherence work. 5 Our group comprises representatives of the central banks of all the major FX centres. It is very much a global effort.