The FXJSC was established in November 1973 and is a forum for market participants, infrastructure providers and the relevant UK public authorities to discuss conjunctural and structural issues concerning the wholesale foreign exchange market in the UK and the associated supporting infrastructure. The FXJSC currently has two sub committees.
- The Operations Sub-Committee was established in 2002. Its members are operations managers from many major banks active in the London wholesale FX market, as well as representatives from service providers and trade associations and also from the FCA.
- The Legal Sub-Committee was established in 2004 and comprises legal professionals providing in-house counsel for many of the major institutions involved in the wholesale FX market in London.
FX Global Code
On 25 May 2017, the FX Global Code and accompanying material were published on the Global Foreign Exchange Committee website. 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.
The FX Global Code, along with the UK Money Markets Code and the Global Precious Metals Code, replaces the Non-investment Products Code.