London Forex Joint Standing Committee

The London Foreign Exchange Joint Standing Committee (FX JSC) was established in 1973 under the auspices of the Bank of England, in the main part as a forum for banks and brokers to discuss broad market issues and the focus of the Committee's regular work remains issues of common concern to the different participants in the foreign exchange market.

The Committee includes senior staff from many of the major banks operating in the foreign exchange market in London, as well as from voice- and electronic-brokers, corporate users of the foreign exchange market, the Financial Services Authority (FSA) and representatives from the British Bankers' Association, the Association of Corporate Treasurers and the Wholesale Market Brokers' Association.

One of the main responsibilities of the Committee is to maintain the Non-Investment Products Code. This is a voluntary code of good market practice which covers bullion, wholesale deposits as well as the FX market. It is maintained in conjunction with the Sterling Money Markets Liaison Group, the London Bullion Market Association, and certain trade associations.

The above introduction is quoted from the official site of London Foreign Exchange Joint Standing Committee. The same can be visited at: http://www.bankofengland.co.uk/markets/Pages/forex/fxjsc/default.aspx.


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