News

2008

• March 25 - FXC, EMTA, and FX JSC issue Practice Notes to the Multilateral Master Confirmation Agreement for Non-Deliverable Forward FX Transactions
• January 28 - FXC releases the results of its seventh Survey of North American Foreign Exchange Volume
  
  • October 2007 Data
  • October 2007 Data

2007

• November 15 - ISDA, EMTA and FXC announce the addition of a new rate source definition for the Peruvian Sol (November 2007)
• October 31 - FXC, EMTA, and FX JSC issue Multilateral Master Confirmation Agreement for Non-Deliverable Forward FX Transactions
  
  • Multilateral NDF Master Confirmation Agreement
• July 31 - FXC releases the results of its sixth Survey of North American Foreign Exchange Volume
  
  • April 2007 Data
  • April 2007 Data
• January 22 - FXC releases the results of its fifth Survey of North American Foreign Exchange Volume
  
  • October 2006 Data
  • October 2006 Data
• January 12 - FXC, EMTA and ISDA announce publication of a new compendium of amendments to Annex A of the 1998 FX and Currency Option Definitions, effective January 12th (January 2007)

2006

• December 13 – FXC, EMTA and FX JSC issue Master Confirmation Agreement for Non-Deliverable Forward FX Transactions (December 2006)
  • NDF Master Confirmation Agreement
  • User's Guide to NDF Master Confirmation Agreement
  • Addendum to NDF Master Confirmation Agreement
• December 5 – FXC releases amendment to section 1.2 of IFXCO Master Agreements
  • Amendment
  • Explanatory Note
• October 25 – FXC, SFEMC and EMTA issue updated User’s Guide for the 2004 Asian Currency Non-Deliverable FX Documentation (October 2006)
• October 25 - New and amended Indian Rupee and Philippine Peso rate source definitions published by the FXC, EMTA and ISDA, effective October 25th (October 2006)
• August 1 - (revised August 23) New and amended Chilean Peso, Colombian Peso, and Peruvian Sol rate source definitions published by the FXC, EMTA, and ISDA, effective August 1st (August 2006)
• July 17 - FXC releases the results of its fourth Survey of North American Foreign Exchange Volume
  • April 2006 Data
  • April 2006 Data
• June 19 - FXC publishes autodealing paper on the market impact and best practice recommendations
  • Autodealing: Market Impact and Best Practice Recommendations
• May 17 - The FXC, SFEMC, and EMTA issue clarifying amendment to the definition of Settlement Date in Template Terms for the 2004 Asian Currency Non-Deliverable FX Documentation (May 2006) (superseded)
  • Updated User's Guide to 2004 Asian Currency Non-Deliverable FX Documentation
  • Updated Addendum to 2004 Asian Currency Non-Deliverable FX Documentation
• May 5 - FXC, EMTA, and ISDA announce the publication of technical revisions to the 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
  • Revised Exhibits I and II to the 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
• April 17 - Compendium of Amendments to Annex A of the 1998 FX and Currency Option Definitions (April 2006) (superseded)
• April 3 - Amended Korean won rate source definition published by the FXC, EMTA, and ISDA, effective April 3
• March 6 - Amended Chinese Renminbi rate source definition published by the FXC, EMTA, and ISDA, effective March 6 (March 2006)
• January 23 - FXC releases the results of its third Survey of North American Foreign Exchange Volume
  • October 2005 Data
  • October 2005 Data
• January 23 Market Share Report

2005

• December 19 - FXC publishes prime brokerage overview and best practice recommendations
  • Foreign Exchange Prime Brokerage Product Overview and Best Practice Recommendations
• December 9 - FXC addresses letter to market participants regarding the retail foreign exchange market
• December 6 - FXC, EMTA, and ISDA announce the publication of the new 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
  • 2005 Barrier Option Supplement to the 1998 FX and Currency Option Definitions
  • Practice Notes to the 2005 Barrier Option Supplement
  • Currency Pair Matrix
• November 22 - FXC, ISDA, and EMTA publish Compendium of Amendements to Annex A to the 1998 FX and Currency Option Definitions, effective November 22, 2005
• November 17 - Remarks by FXC Chair Mark Snyder before the Profit & Loss Forex Network: "New Opportunities and Risks in Foreign Exchange: The Role of the Foreign Exchange Committee"
• November 7 - Amended Chinese Renminbi rate source definition published by the FXC, EMTA, and ISDA, effective November 7
• October 26 - FXC releases its inaugural market share report
• July 25 - FXC releases the results of its second Survey of North American Foreign Exchange Volume
  • April 2005 Data
  • April 2005 Data
• July 14 - FXC addresses letter to market participants regarding the practice of issuing authorization letters
• July 1 - SFEMC, EMTA, and FXC announce updated documentation for Malaysian Ringgit non-deliverable foreign exchange transactions, effective July 15, 2005
  • Addendum to 2004 Asian Currency Non-Deliverable FX Documentation
  • Malaysian Ringgit Template Terms
  • Malaysian Ringgit Amendment Agreement
• July 1 - New and amended Indonesian Rupiah and Malaysian Ringgit rate source definitions published by EMTA, ISDA, and the FXC, effective July 15, 2005
• July 1 - Amended Romanian Leu rate source definition published by EMTA, ISDA, and the FXC, effective July 1, 2005
• June 1 - FXC publishes IFXCO Master Agreement
  • IFXCO Terms
  • IFXCO Adherence Agreement
  • IFXCO Adherence Agreement
  • IFXCO Guide to Changes to the FXC Master Agreements
  • IFXCO List of Opinions
• May 31 - Joint FXC and JSC Statement Regarding the Romanian Leu Conversion
  
• May 20 - New and Amended Russian Ruble Rate Source Definitions Announced by EMTA, ISDA, and the FXC, effective as of June 16, 2005
  
• May 11 - FXC publishes article: "The Changing Nature of Operational Risk in Foreign Exchange"
  
• April 20-21 - Global Operational Managers Conference hosted by the Foreign Exchange Joint Standing Committee
• April 6 - FXC announces the publication of a prime brokerage master agreement
  • Master FX Give-Up Agreement
  • Compensation Agreement
• March 24 - FXC Publishes its 2004 Annual Report
• March 3 - FXC Joins with Other Industry Groups to Support Provisions of S.26
• January 24 - FXC releases the results of its inaugural Survey of North American Foreign Exchange Volume
  • October 2004 Data
  • October 2004 Data
  
  

2004

• December 30 - Amended Turkish Lira Rate Source Definition Announced by EMTA, ISDA, and the FXC effective as of January 1, 2005
• December 16 - FXC and ISDA File Amicus Brief in the Jugobanka Case
• December 7 - Joint FXC and JSC Statement Regarding the Turkish Lira Conversion
• November 8 - 2004 Version of Foreign Exchange Transactions: Execution to Settlement, Recommendations for Nondealer Participants.
• November 5 - The FXC Announces the Release of 2004 Version of Management of Operational Risk in Foreign Exchange
• November 5 - 2004 Version of Management of Operational Risk in Foreign Exchange
• November 1 - The FXC, EMTA, and SFEMC Announce Updated Documentation for Non-Deliverable Foreign Exchange Transactions for Six Asian Currencies

User's Guide and 2004 Asian Currency Non-Deliverable FX Documentation 65 pages The SFEMC Indicative Survey Rate Methodologies for Six Asian Currencies 18 pages Chinese Renminbi Template Terms 4 pages Indian Rupee Template Terms 4 pages Indonesian Rupiah Template Terms 4 pages Korean Won Template Terms 4 pages Philippine Peso Template Terms 4 pages Taiwanese Dollar Template Terms 4 pages

• November 1 - EMTA, ISDA, and the FXC Announce Amended Rate Source Definitions for Six Asian Currencies, effective as of December 1, 2004
• September 28 - The FXC Addresses Letter to Market Participants Regarding CLS Bank's Trade Confirmation Initiative
• July 13 - Remarks by FXC Chairman Mark Snyder before the FX Week Congress: "Ethics, Best Practices and Self-Regulation: A Crossroads for the Global Foreign Exchange Market"
• July 13 - The FXC Addresses Letter to Market Participants Regarding the Use of Points to Resolve Disputes.
• July 13 - 2004 Changes to the Guidelines for Foreign Exchange Trading Activities.
• July 13 - Updated Version of the Guidelines for Foreign Exchange Trading Activities.
• March 8 - Compendium of Amendments To Annex A to the 1998 FX and Currency Option Definitions.
• February 23 - FXC Addresses Letter to Market Participants Regarding the Practice of Issuing Authorization Letters
• February 18 - Amended Brazilian Rate Source Definition Announced by EMTA, ISDA, and the FXC, effective as of March 1, 2004.
• February 17 - FXC and SFEMC Address Joint Letter to Market Participants Regarding Risks Associated with Trading on an Unnamed Basis
• January 12 - FXC Announces the Appointment of State Street's Mark Snyder to the Position of Chairman

2003

• December 2 - Amended Korean Won Rate Source Definition Announced by EMTA, ISDA, and the FXC.
• December 1 - FXC expresses deep concern about recent charges alleging criminal behavior by individuals in the foreign exchange market and resolves to continue its work to preserve a fair, transparent, and efficient marketplace.
• May 5 - FXC Invites FX Market Community to participate in June forum on Management of Operational Risk in Foreign Exchange.
• April 2 - Master Agreement Supplement for Non-Deliverable Forwards
• March 31 - FXC releases 2003 version of Management of Operational Risk in Foreign Exchange
• March 3 - Amended Taiwanese Dollar Rate Source Definition Announced By ISDA, EMTA and the FXC.
• March 3 - The FXC Comments on Trading Foreign Exchange on an Unnamed Basis.
• January 31 - FXC Addresses Letter to Market Participants Regarding Risks Associated with Trading On an Unnamed Basis.
• January 9 - FXC recommends the use of a master agreement addendum for NDFs to minimize operational risk associated with NDF confirmations.

2002

• December 20 - New and Amended Argentine Peso Rate Source Definitions Announced By EMTA, ISDA and the FXC.
• November 6 - FXC Endorses the Joint Standing Committee's Proposed Changes to the NIPS Code Regarding Trading with Unnamed Counterparties.
• October 30 - Committee Introduces Changes to the Guidelines for Foreign Exchange Trading Activities
• October 21 - FXC submits comments on the Draft Interagency White Paper on Sound
Practices to Strengthen the Resilience of the U.S. Financial System.
• June 7 - FXC comments on the SIA's Whitepaper on cross border related to T+1 settlement for U.S. securities.
• April 18 - The Committee Supports EMTA's Efforts to Generate a New Methodology for Settling NDFs in the Event of an Unscheduled Market Holiday
• February 26 - FX Committee sponsors Electronic Trading Forum


• January 8 - FXC statement on NDF transactions involving the Argentine peso

2001

• November 30 - Supplementary Guidance on Electronic Validations and Confirmation Messaging
• November 23 - Foreign Exchange Committee offers Supplementary Guidance for Market Disruptions.
• November 15 - The FXC Offers Recommendations on Contingency Planning
• September 14 REVISED - SFEMC statement regarding the treatment of the Taiwan dollar fixing rate for September 12, 2001.
• September 1 - An updated version of the "Guidelines for Foreign Exchange Trading Activity"
• July 10 - EMTA, ISDA and the FX Committee announce new and amended Argentine Peso Rate Source Definitions to Annex A effective as of July 10, 2001.
• June 20 - EMTA, ISDA and FX Committee announce addition of new Korean Won rate source definitions to Annex A.
• June 6 - The FX Committee concurs with changes in definitions for SWIFT confirmation messages.
• February 2 - Bank Indonesia has recently announced certain restrictions with regard to foreign exchange transactions involving the Indonesian rupiah.
• January 23 - A NEW and UPDATED version of the "Guidelines for Foreign Exchange Trading Activity"

2000

• December 15 - The Committee and the Singapore Committe suggest changes in the SWIFT confirmation messages.
• December 11 - The Emerging Markets Trading Association (EMTA) has been working with the industry on resolving NDF issues and has recently published a number of suggested new best practices. These best practices can be found on EMTA's web site. Also available on the site is a summary of EMTA's current efforts to resolve the remaining open issues on NDF practices.
• September 28 - The FX Committee recommends the use of two new templates (1) the Knock-Out/Knock-In Barrier Option and (2) the Binary Option Template
• September 22 - ISDA, EMTA, and FX Committee Announce Website Publication of Revised Annex A to 1998 FX and Currency Option Definitions
• September 22 - Revised Annex A to 1998 FX and Currency Option Definitions, effective September 25, 2000
• July 18 - Committee Joins with Other Industry Groups to Support Provisions of H.R. 4541
• June 1 - FX Committee releases 1999 Collateral Annex to FEOMA, IFEMA, ICOM Master Agreement
• May 30 - Industry Statement on Legal Certainty Provisions of Ewing Bill
• March 14 - EMTA, ISDA and FX Committee announce addition of new Brazilian Real rate source definition.
• February 17 - FXC announces new set of best practices for the barrier option market.
• February 17 - Cross Product Master Agreement and Guidance Notes

1999

• December 2 - FXC issues revised Force Majeure provisions for standard currency trading agreements.
• November 18 - The ACI--the Financial Markets Association has endorsed the Committee's recent paper, Y2K: Best Practices in the Foreign ExchangeMarket. The ACI thus joins a number of other global organizations supporting the document.
• October 20 - Foreign Exchange Transaction Processing: Execution to Settlement, Recommendations for Nondealer Participants
• October 18 - FXC issues "Y2K: Best Practice in the Foreign Exchange Market"
• August 25 - EMTA, ISDA and the FX Committee announce amendments to the Philippine peso rate source definitions
• June 25 - Letter reminding the community of the potential benefits of reduced transactions and settlements in the first week of January 2000.
• June 8 - Letter to CFTC on Proposed Rules Concerning Automated Trading Systems Providing Access to Electronic Boards of Trade Operating Primarily out of the US
• June 8 - Letter to Congressman Thomas Ewing, Chair of the House Subcommitee on Risk Management and Specialty Crops, on CEA Reform. Signed by Foreign Exchange Committee and other industry groups.
• February 3 - New Brazilian Real Rate Sources Announced by ISDA, EMTA and the FX Committee

1998

• December 3 - Y2K: Letter from the Committee and the Singapore Foreign Exchange Market Committee suggesting that the foreign exchange com