The China FX Market Self-Disciplinary Mechanism was founded on 24th June, 2016 by members of China’s FX and relevant markets. It serves as a market self-disciplinary and coordinating mechanism. Subject to China's relevant FX policies and administrative rules, it is responsible for the self-disciplinary management of the USD/CNY central parity rate quoting, wholesale interbank FX trading and retail FX and cross-border RMB businesses, so as to safeguard fair competition and support the sound development of the FX market. 

The China FX Market Self-Disciplinary Mechanism fulfills the following responsibilities, subject to China’s relevant laws, regulations and policies:

  • To formulate codes of conduct and best practices for USD/CNY central parity rate quoting and promote adherence. 

  • To formulate codes of conduct and best practices for interbank FX trading and promote adherence. 

  • To formulate codes of conduct and best practices for retail FX and cross-border RMB businesses and promote adherence. 

  • To carry out monitoring and assessment on code implementation. 

  • To organize training programs and publicity. 

  • To mediate trading disputes among members and handle complaints. 

  • To initiate international cooperation. 

  • Others as specified from time to time.

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