GFXC launches Global Index of Public Registers

The Global Foreign Exchange Committee has launched the Global Index of Public Registers to link eight registers that operate independently from one another and contain different lists of companies that have publicly committed to the FX Global Code.

The index will create a single access point to all publicly available adherence documents, enabling market participants to search across all of the registers for the statement of commitment signed by a firm.

“The Global Index shows the GFXC’s commitment to promoting and encouraging widespread adherence to the Code through voluntary adoption of a statement of commitment,” says Simon Potter, interim chair of the GFXC and executive vice-president of the Federal Reserve Bank of New York.

“We hope this new tool provides greater awareness of the industry’s overall commitment to promoting a robust, fair, liquid, open and appropriately transparent FX market,” he adds.

The eight existing public registers were set up by private-sector companies or trade associations without any co-ordination with the GFXC, although the committee did set out recommendations for the necessary characteristics of these repositories in July 2017.

The GFXC is now accepting applications for inclusion in the Global Index from public registers that fulfil the criteria.

“Market participants place great value on the integrity and effective functioning of the FX market, and I am confident the Global Index and public registers will contribute to these important goals. The Global Index has been established in response to industry demand and we are very pleased to launch the Global Index today,” says David Puth, vice-chair of the GFXC and chief executive of CLS.