The Global Foreign Exchange Committee (GFXC) was established in May 2017 as a forum bringing together central banks and private sector participants with the aim to promote a robust, liquid, open, and appropriately transparent FX market in which a diverse set of participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available information and in a manner that conforms to acceptable standards of behaviour.

The objectives of the GFXC are:

1. to promote collaboration and communication among the local foreign exchange committees (LFXCs) and non-GFXC jurisdictions with significant FX markets;
2. to exchange views on trends and developments in global FX markets, including on the structure and functioning of those markets, drawing on information gathered at the various LFXCs; and
3. to promote, maintain and update on a regular basis the FX Global Code (Code) and to consider good practices regarding effective mechanisms to support adherence.