FEDAI plays a special role in the foreign exchange market for ensuring smooth and speedy growth of the market in all its aspects. All authorised dealers are required to become members of the FEDAI and execute an undertaking to the effect that they would abide by the terms and conditions stipulated by the FEDAI for transacting foreign exchange business.
As the forex market grows in the spot and derivative segments including currency futures, the FEDAI as a self regulatory organisation needs to focus on supporting orderly growth, promoting market integrity and sound practices with the ultimate objective of supporting the real economy. I wish the conference all success. 6  BIS Review 4/2009