April 2019 - Below is an overview of the current global adoption of the FX Global Code of Conduct (FXGC) as we approach the 2nd Year anniversary of the launch of the FXGC in May 2017.
This data is taken from the GFXC's Global Index of Public Registers where Market Participants post their Statements of Commitment.
There are 16 different Public Registers. 11 are operated by FX Associations for their specific local Market Participants, 3 are for specific types of Market Participant (Central Banks, European Corporates and European Venues and Intermediaries) and 2 have a broad mix of Market Participants types and regional adoption (CLS and EBS).
Of the SOCs posted to date, Banks are by far the highest Market Participant type at 73% compared to only 7% for Buyside Firms (Asset Managers, Corporates, Pension Funds and Insurance Companies).
There have been 4 months with large spikes in adherence. The most notable was in May 2018 (1st Anniversary of launch of FXGC) when 199 Market Participants sign up to FXGC mainly from Japan, India, HK, China, Korea and Brazil.
Of the 631 banks which have posted an SOC on a Public Register 452 (72%) are in Asia-Pacific Region.