Global FX Code – Conduct, Principles and Clarity

Course level : Short courses

After a three-year review, the Global FX code was updated in July 2021 to strengthen conduct standards and reflect changes in the FX markets.

Failing to adhere to the Code, can lead to severe penalties for both firms and individuals. Regulators and central banks in all major jurisdictions expect both buy-side and sell-side FX market participants to have committed to the Code. The Global Foreign Exchange Committee often carries out surveys to check how the Code has been implemented, including checking that committed companies are training their staff regularly on the principles.

Created by experts who have worked in organisations that needed to carry out major remediation following on from FX misconduct in 2013, this course uses case studies based on real situations and prosecutions to enable you to:

  • understand the importance of the Code and grasp the regulatory and reputational risk of non-compliance
  • learn about the principles of the Code, how to execute it, your personal accountability and what is good practice in governance
  • appreciate the practical issues with confirmations and settlements
  • be able to demonstrate to the regulator that you take your market participation seriously
  • recognise the commercial advantage compliance to the Code will afford you and your organisation

Explore the Global FX Code through these modules:

  • Personal Accountability
  • Introduction to the Global FX Code
  • Ethics
  • Governance
  • Execution
  • Information Sharing
  • Risk Management and Compliance: Compliance standards
  • Confirmations and Settlement

This course is suitable for:

  • Both regulated and unregulated firms who have adopted or are informally applying the Code
  • Compliance professionals, investment managers, asset managers or FX traders who want to ensure adherence or validate their knowledge.
  • Self-paced, online, gamified learning
  • Quizzes to test your understanding
  • Access for 1 month (in which time you can continue to test your knowledge as often as you want)
  • Certificate of completion
per currency depending on location   
GBP  400
EUR  440
USD  520

Course fees stated exclude VAT or local tax, this will be added to your basket at the checkout if applicable.

Exclusive Qualification Discount for ICA Professional and Fellow Members

All ICA Professional and Fellow members are entitled to discounted rates on subsequent qualifications they choose to enrol on:

• Professional (MICA) - 10%
• Fellow (FICA) – 15%

Simply enter your membership number on enrolment to gain your exclusive discounted rate.

Group discounts are also available for 5 or more. Contact us at for more information.

Non-ICA members enrol here.

ICA Professional members enrol here

ICA Fellow members enrol here.


If you feel the full course is not for you, two individual modules are available to enrol onto separately.

Introduction to the Global FX Code
£100 + tax

Global FX Code – Execution Principles 
£200 + tax

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