The Swiss Foreign Exchange Committee

The Swiss Foreign Exchange Committee (Swiss FXC) performs two roles. First, it serves as a forum for banks and other foreign exchange market participants in Switzerland and Liechtenstein as well as the SNB, and provides experts with a platform for discussing the structure and technical functioning of the market.

Second, the Swiss FXC is a member of the Global Foreign Exchange Committee (GFXC), which promotes, maintains and updates the principles of the FX Global Code. This code sets out principles of good market practice developed by central banks and participants from the main foreign exchange trading centres.

The code and dialogue with market participants promote the effective functioning of the foreign exchange market, which is in the SNB's interests with a view to performing its tasks.

The Swiss FXC's Terms of Reference provide for it to be co-chaired by one representative from the private sector and one from the SNB. The Committee meets at least twice a year. The members undertake to comply with competition law and confidentiality requirements. The SNB runs the technical secretariat, organises the meetings, and publishes Swiss FXC-related information on the SNB website. The content published in the meeting documents does not necessarily reflect the views of the SNB.