The EIB signed on November 26 the Statement of Commitment to the Foreign Exchange (FX) Global Code, a set of good practice principles in the foreign exchange market.

• EIB committed to best banking principles to ensure fair FX trade and increased transparency and robustness of the market 
• EIB is compliant with all of the 55 principles of the FX Global Code

The European Investment Bank (EIB) signed on November 26 the Statement of Commitment to the Foreign Exchange (FX) Global Code, a set of good practice principles in the foreign exchange market.

The FX Global Code promotes the integrity and effective functioning of the wholesale foreign exchange market to increase transparency and robustness.

“The European Investment Bank stands for applying best practice and leading by example. This is why we sign the FX Global Code as first among the international financial institutions. We will always do our best to ensure a robust, fair, liquid, open and transparent market”, said EIB Vice-President Alexander Stubb.

The bank is compliant with all of the 55 principles of the FX Global Code grouped in its six pillars – ethic, governance, execution, information sharing, risk management and compliance, as well as confirmation and settlement processes, testifying to the high standards of operations observed at the EIB. The FX Global Code was developed in partnership between central banks and market participants from 16 jurisdictions and launched in 2017. 

The Statement of Commitment also covers the Bank’s activities when acting as an agent for Third Party Mandates Portfolios.

The FX Global Code does not impose legal or regulatory obligations. It applies to all market participants engaged in the foreign exchange market, both on the buy- and the sell-side, including trading venue operators, non-bank liquidity providers and other service providers such as those that offer brokerage, execution and settlement services. It is reviewed annually, with a more comprehensive review every three years. To date, more than 570 institutions worldwide adhered to the Code.

Statement of Commitment to Foreign Exchange Global Code of Conduct