Foreign exchange contact group (FXCG)

The FXCG is a forum for interaction between the ECB and industry-wide market professionals involved in the wholesale foreign exchange (FX) market. The objective of the FXCG is to discuss developments in FX markets and share ideas and experiences on the structure and the functioning of the FX markets.

• FXCG terms of reference
• Work programme for 2025

As a member of the Global Foreign Exchange Committee, the FXCG will provide guidance and leadership to the FX market, through the development, implementation and maintenance of the FX Global Code, and will endorse and facilitate adherence to the FX Global Code.  

Members and composition

The chair is the Deputy Director General Market Operations of the ECB.

The FXCG is composed of representatives of the ECB as well as financial and other institutions with a prominent role in the area of foreign exchange.

The composition of the group is reviewed at the end of the calendar year. Foreign exchange market participants are welcome to express their interest in joining the Contact Group by submitting the application form and relevant documentation at the latest by end October. To further enhance the diversity of our contact group, we particularly encourage institutions to nominate female representatives.

• List of members

Observers

Representatives from the euro area national central banks, who have the status of observer, may follow the discussions in the group.

Other Foreign Exchange Committees

Links

Other market contact groups

• Money market contact group (MMCG)
• Bond market contact group (BMCG)

Documents

• ECB Statement of Commitment to the FX Global Code: February 2022
  
• ECB Statement of Commitment to the FX Global Code: November 2017
  
• ESCB central banks welcome the FX Global Code: May 2017
• Joint Statement on the Publication of the FX Global Code: May 2017

Related information