9 October 2025
All members of the European System of Central Banks, ESCB, are committed to supporting and promoting adherence to the FX Global Code (the "Code").
The Code was first published in 2017. At that time, and at the subsequent update in 2021, Danmarks Nationalbank published a statement of commitment to comply with the Code. The Code was updated in December 2024 by the Global Foreign Exchange Committee, GFXC, to keep it relevant and aligned with the evolving foreign exchange market. By doing so, the Code continues to set the standard for best market practice in the foreign exchange market.
Well-functioning financial markets benefit all market participants and are important for central banks, as they ensure the smooth transmission of monetary policy to the real economy. This ultimately benefits the public at large.
All the central banks of the ESCB, including Danmarks Nationalbank, have issued renewed statements of commitment to adhere to the updated Code. By renewing their statements, the members of the ESCB demonstrate their strong commitment to adhere to the principles of the Code when acting as foreign exchange market participants, aligning their internal practices and processes with the updated principles and supporting broader adherence to the Code. With these Statements of Commitment, they underscore the importance of the Code's principles in ensuring the continued integrity and effective functioning of the foreign exchange market. The ESCB central banks, including Danmarks Nationalbank, urge all foreign exchange market participants in their jurisdictions to review the updated Code and renew their Statements of Commitment to support its objectives.
The ESCB central banks consist of the ECB and the national central banks of all EU Member States, regardless of whether they have joined the euro area.
Enquiries can be directed to Helle Harbo Holm, Head of Commuications on tel. +45 4111 9795.