On March 30, 2015, representatives from the foreign exchange committees of central banks in several major global jurisdictions, including the Federal Reserve Bank of New York, the Bank of Japan and the Bank of England, established new market conduct guidelines for the global forex markets. These new guidelines, Codes of Best Market Practice and Shared Global Principles, emphasize a duty of FX market participants to act with care, diligence and good faith in an effort to create a more tamper-resistant market structure.

In an effort to rein in abuse of FX futures after rampant market manipulation was revealed last year, the new code of conduct:

Regulators have been trying to fix abuses in the global forex market by establishing procedures for setting representative exchange rates (referred to as "fixes") that are more difficult to manipulate. The new guidelines are designed to act as a global guide to supplement the more general existing codes that were developed and employed by each foreign exchange committee in different regions in order to promote best market practices and high standards of conduct and professionalism. The guidelines also instruct asset managers to work harder to ensure they are getting the best deal they can on currency transactions for their clients.

According to the new guidelines, "FX market participants are advised to apply the global 'high-level principles' set out in this document to the FX market as it evolves, including with respect to new FX products, processes and technologies." The new code seeks to categorize confidential information and provide greater guidance on what dealers and participants can say to each other about the market, especially around orders submitted for execution in daily benchmark fixing sessions. Many banks have recently separated their fix desks from their regular trading desks, and exchanges plan to offer more transparent FX pricing.