New York Foreign Exchange Committee (FXC)
The Foreign Exchange Committee is an industry group that has been providing guidance and leadership to the global foreign exchange market since its founding in 1978.
The FXC includes representatives of major financial institutions engaged in foreign currency trading in the United States and is sponsored by the Federal Reserve Bank of New York. Aware of the strong integration of the global foreign exchange market, the FXC is also an active partner to other foreign exchange committees and industry associations worldwide.
The FXC’s objectives include:
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serving as a forum for the discussion of good practices and technical issues in the FX market,
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fostering improvements in risk management in the FX market by offering recommendations and guidelines, and
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supporting actions that facilitate greater contractual certainties for all parties active in foreign exchange.
The above introduction has been taken from The New York Foreign Exchange Committee or FXC's official site which can be visited at http://www.ny.frb.org/fxc/.
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