HSBC has signed an institution-wide Statement of Commitment to the FX Global Code ("the Code") which establishes a common set of guidelines to promote good practice in the Foreign Exchange market.
HSBC has actively contributed to the evolution of the FX Global Code since its inception, with senior management taking a leadership position in the BIS Market Participants Working Group. HSBC provided insight and expertise in drafting and reviewing the FX Global Code alongside peer firms, central banks and buy-side representatives. Since its publication, HSBC has continued to speak publically in support of the FX Global Code at industry events, contribute to industry wide surveys and provide input to consultations related to the Code.
HSBC believes that the Code sets out principles of good practice for the FX market – and promotes a robust, fair, liquid, open, and transparent market underpinned by high ethical standards.
HSBC is strongly committed to supporting and promoting adherence to the principles set out in the Code, having embedded the principles of the Code throughout its FX business.