Forex (FX) Standards Evaluation Group 

Scope of the FX SEG

The scope of the FX SEG includes the messages supporting transactions and business processes related to the following non-exhaustive list of currency contracts:

  • Spot FX
  • Forward FX (including non-deliverable trades)
  • FX swaps
  • Currency options (vanilla as well as exotic)

The business areas include:

  • Pre-trade (Indications Of Interests, quotes, etc.)
  • Trade (ordering, executions, allocations, affirmations, etc.)
  • Post-trade (confirmations, matching, assignment, novations, etc.)
  • Notification of trades to third-parties
  • Trigger events, option exercises
  • Clearing and settlement (including netting and related reporting)
  • Trade reporting and reconciliation

The actors involved include:

  • Investment managers and hedge funds
  • Dealers (currency market makers)
  • Custodians
  • Money brokers
  • CLS and CLS settlement members (dealers)
  • Trading portals and matching services providers
  • Associations providing rules and master agreements (e.g. ICOM and ISDA agreements)
  • Application providers

SEG leadership team: 

Convenor: Mr. Zaiyue Xu
Vice convenor: Mr. Howard Middleton
Secretary: Mr. Joe Halberstadt