The Bank of England has published an updated version of its Global Preamble: Codes of Best Market Practice and Shared Global Principles (the Global Preamble).
The updated Global Preamble has been approved and endorsed by the eight foreign exchange committees, namely:
- Australian Foreign Exchange Committee;
- Canadian Foreign Exchange Committee;
- European Central Bank’s Foreign Exchange Contact Group;
- Hong Kong Treasury Markets Association;
- London Foreign Exchange Joint Standing Committee;
- New York Foreign Exchange Committee;
- Singapore Foreign Exchange Market Committee; and
- Tokyo Foreign Exchange Market Committee.
Foreign exchange market participants are expected to incorporate the guidance in the Global Preamble into their processes and control framework in a timely manner.
View Global Preamble: Codes of Best Market Practice and Shared Global Principles, 30 March 2015