The FX Global Code / Global Precious Metals Code (the Codes) are a set of global principles of good practice in the foreign exchange and precious metals market. The Codes aim to provide the integrity and effective functioning of the foreign exchange (FX) and precious metals (PM) markets.
Bank Julius Baer & Co. Ltd. (the Bank), the main operating entity of Julius Baer Group Ltd. (the Group), has decided to formally adopt and adapt the Codes to the extent applicable to its business (operating) model and to sign the official ‘Statement of Conformance’.
FX Global Code
The FX Global Code (the FX Code) is a set of global principles of good practice in the foreign exchange market, developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. It was developed by a partnership between central banks and market participants from 16 jurisdictions around the globe.
The purpose of the FX Code is to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of market participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.
The FX Code does not impose legal or regulatory obligations on market participants, nor does it substitute any regulation. Rather, it is intended to serve as a supplement to any and all local laws, rules, and regulations by expounding global good practices and processes.