The Swiss Foreign Exchange Committee comprises experts from firms active in the foreign exchange market in Switzerland and Liechtenstein, covering a range of different roles. Besides banks, members include buy-side firms as well as infrastructure providers. The SNB has two representatives on the Swiss FXC.
To become a member of the Committee, firms must have signed the Statement of Commitment (SoC) to the FX Global Code. The SoC is simply a self-attestation of adherence to the principles of the code. Such compliance is not monitored, nor does membership of the Swiss FXC amount to proof of adherence in any form. Decisions on membership of the Committee lie with the SNB.
The composition of the Swiss FXC is reviewed every two years, with some of the existing members stepping down so that other interested market participants can play their part in the Committee. The composition will next be reviewed in mid-2022. Foreign exchange market participants that would like to join can register their interest by submitting a letter of motivation.