FX Global Code

Register of Statements of Commitment

InstitutionTypeDate of AdmissionDate of StatementPDF
BCP BANK (MAURITIUS) LTDBank2021-062020-09-30Click to view statement
The Mauritius Commercial Bank LtdBank2021-062020-09-28Click to view statement
Investec Bank (Mauritius) LimitedBank2021-062020-06-30Click to view statement
Standard Bank (Mauritius) LimitedBank2021-062020-09-30Click to view statement
Absa Bank (Mauritius) LtdBank2021-062020-10-09Click to view statement
MauBank LtdBank2021-062020-09-28Click to view statement
Bank One LtdBank2021-062021-04-29Click to view statement
HSBC Bank (Mauritius) LimitedBank2021-062018-05-02Click to view statement
The HongKong and Shanghai Banking Corporation LimitedBank2021-062018-05-02Click to view statement
SBM Bank (Mauritius) LtdBank2021-062020-09-30Click to view statement
SBI (Mauritius) LtdBank2021-062021-04-29Click to view statement
ABC Banking Corporation LtdBank2021-062021-04-30Click to view statement
Standard Chartered Bank (Mauritius) LimitedBank2021-062018-03-01Click to view statement
AfrAsia Bank LimitedBank2021-072020-09-30Click to view statement

What is the FX Global Code?

The FX Global Code contains a set of global principles of good practice in the foreign exchange market. These global principles have been developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market (FX Market).

 It is intended to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.

The Global Code does not impose legal or regulatory obligations on Market Participants, nor does it substitute for regulation, but rather it is intended to serve as a supplement to any and all local laws, rules, and regulation by identifying global good practices and processes.

The Public Register

The Mauritius Bankers Association Limited (MBA) is hosting a Public Register for banks licensed in Mauritius by the regulator, the Bank of Mauritius.

Participants can make a written request to the MBA for (i) listing their signed Statement of Commitment (in PDF format) on the public register, (ii) updating their Statement of Commitment on the public register, and (iii) removing their Statement of Commitment from the public register. Processing time would be around 5 business days after taking cognisance of the request and ensuring it is genuine.

Every year an email will be sent to participants to remind them of their presence on the register, of the date of the latest version of the Code and of the removal and maintenance processes. Participants are encouraged to inform the MBA of any changes in contact details.

They may also address any related queries to ajankee@mba.mu.

Statement of Commitment

A standardised Statement of Commitment is available by which market participants can demonstrate their recognition of, and commitment to adopting the good practices set forth in the FX Global Code: https://www.globalfxc.org/docs/statement_of_commitment.pdf

For further information on FX Global Code and Statement of Commitment, please refer to www.globalfxc.org

Market Participants Statement of Commitments hosted on the register will be shared with the Global Foreign Exchange Committee for inclusion in their Global Index of Registers that can be viewed at the following link : https://www.globalfxc.org/global_index.htm

Maintenance of the Public Register

The nature of a participant’s activities may change with time. Participants that have signed a Statement of Commitment should consider how they will review their activities for alignment with the principles set out in the FX Global Code. Steps taken should reflect the size and complexity of the participant’s Foreign Exchange Market activities.

Some participants may consider setting a regular schedule for review, while others may vary their approach based on how their business changes over time.

Upon publication of future updates to the FX Global Code, institutions that have committed should consider renewing their Statement taking into consideration those updates. Participants should review and implement changes as appropriate so that their Statement of Commitment is accurate and relevant at all times. Upon renewing a Statement of Commitment, a commitment to an earlier version of the FX Global Code will be removed from the Register.

Disclaimer

A Market Participant must comply with the laws, rules and regulations applicable to them and the Code is no substitute for regulation.

This Register is provided as public source of information for finding out whether an institution has committed to observing the FX Global Code. It is the sole responsibility of an institution registering its commitment to the FX Global Code to ensure its status on this Register accurately reflects its current circumstances.

If a visitor to the Register wishes to verify or rely on the information shown they should directly contact the relevant institution and make their own inquiries.

The MBA does not assume responsibility for (i) verifying the accuracy or validity of a Market Participant’s Statement, or (ii) monitoring adherence to the Code by Market Participants listed in the register.