The one noteworthy part of the FX industry to which the Code generally doesn't apply is the retail market, as that is generally governed by retail-specific regulation in the relevant jurisdiction.
I am chairing this work, with Simon Potter of the Federal Reserve Bank of New York leading the work on developing the code and Chris Salmon of the Bank of England leading the adherence work. Our Working Group comprises representatives of the central banks of all the  1  http://www.bis.org/press/p150511.htm.