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Education

ACI DEALING CERTIFICATE - (4-day programme / November 5 - 8)
ACI DEALING CERTIFICATE - (4-day programme / June 9 - June 12)
ACI OPERATIONS CERTIFICATE - (2-day programme / June 15 - 16)
ACI DEALING CERTIFICATE - (4-day programme / November 10 - 13)

FX Global Code

The FX Global Code August 2018 (Global Code) is a set of global principles of good practice in the foreign exchange market, developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market. It was developed by a partnership between central banks and Market Participants from 16 jurisdictions around the globe.

The purpose of the Global Code is to promote a robust, fair, liquid, open, and appropriately transparent market in which a diverse set of Market Participants, supported by resilient infrastructure, are able to confidently and effectively transact at competitive prices that reflect available market information and in a manner that conforms to acceptable standards of behaviour.

Why treasurers should embrace FX Global Code

Corporate treasury engagement with the FX Global Code has been slow, unlike at banks and financial institutions.

Please check the link below to access a Refinitiv article, where Neill Penney (Managing Director and Co-Head of Trading) presents six compelling reasons why corporates need to sign up, including the benefit of more open and transparent FX trading relationships.

27th June Webinar: Why Should You Adhere to the FX Global Code?

On June 27th, in a joint collaboration with Refinitiv, ACI promoted "Why Should You Adhere to the FX Global Code?"

If you were able to attend this successful Webinar, we would like to thank you for joining us. For those that missed the live broadcast, you can get access or download the presentation, the webinar recording and additional exclusive materials on the following link:
http://solutions.refinitiv.com/FXGlobalCode_Webinar

Events

Domestic Events


 
KURSUSDAG OG FORÅRSSEMINAR
Read more

ACI FOREX DANMARK  -  GENERAL ASSEMBLY -  DATE 19/9-2019

Læs referatet af generalsamlingen her


International Events


 
Events
ACI Portugal - Seminar on Benchmark Regulation and the Impact on EURIBOR - Postponed 14-02-2020 16:02:16
ACI Portugal - Seminar on Benchmark Regulation and the Impact on EURIBOR - Postponed rute.marques_8292 Fri, 02/14/2020 - 16:02

Update:

As we all know, the rapid expansion of the COVID-19 has caused the implementation of several drastic measures that have the objective to contain its growth, always with the objective of protecting the health and well-being of every person.

Therefore, and because ACI Portugal also wants to ensure the maximum security of our members, we hereby announce the postponement of this Seminar, initially scheduled to happen on April 2nd 2020.

Global Rate Set Systems is completely in agreement with this postponement, and will be available for its rescheduling in a future date.

If you had registered to this event, we hereby inform you that you will need to register again when the new date is set.

Thanks you for your understanding.

ACI Portugal

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In the last few years, following the numerous instances of benchmark manipulation, some concerns were raised on the reliability and integrity of several interest rate benchmarks, such as the EURIBOR and LIBOR.

Given the importance of benchmarks for financial markets, the European Union has adopted the Benchmark Regulation (EU) 2016/2011 (BMR), to regulate indices used as benchmarks in financial instruments and financial contracts.

Having been applied from 1st January 2018, with a transitional period that closed in 1st January 2020 and where a phased adoption is possible until 31st December 2021, it is essential that users and administrators of benchmarks understand all the impacts of the BMR.

Therefore, ACI Portugal and Global Rate Set Systems, an entity specialised in providing services and expertise in financial benchmarks and indices, would like to invite you for a presentation on the Benchmark Regulation and its impact on EURIBOR.

The presentation will be delivered by Neil Donaldson, Business Manager for Europe for Global Rate Set Systems, and focussed on:

- Brief summary of Benchmark Regulation;

- Impacts and changes in banks’ governance models;

- Methodologies used for EURIBOR contributions;

- The change for a Risk Free Rate and the different approaches in various jurisdictions (with a focus on the Eurozone).

The presentation will take place in ACI Portugal’s Lisbon head-office (Rua Dom Luis de Noronha, 4 Piso 8, 1050-072 Lisbon) on 2nd April 2020 at 5pm. It will be followed by a Q&A session and a Cocktail in the Rooftop of ACI Portugal.

To register your attendance, please send an email to geral@aci-portugal.com

For further information on Global Rate Set Systems, please check their website on https://globalrateset.com/

pre-booking
Teaser Image
ACI Portugal - Seminar on Benchmark Regulation and the Impact on EURIBOR - Postponed
Venue name
ACI Portugal’s Lisbon head-office
Event date
Location
Lisbon, Portugal
ACI Dealing Certificate Training Course in Portugal - Postponed 11-02-2020 12:40:50
ACI Dealing Certificate Training Course in Portugal - Postponed rui.correia_8291 Tue, 02/11/2020 - 12:40

Update: Given the outbreak of COVID-19, Forex ACI Portugal has decided to postpone the Training Course on the ACI Dealing Certificate which was scheduled for early May 2020.

Our priorities are the health and wellbeing of all citizens, so we are taking this decision in order to mitigate potential risks to attendees.

The Training Course will be rescheduled to a future date, which will be announced as soon as Forex ACI Portugal is absolutely certain that optimal conditions are guaranteed for attendees to be safe and can fully enjoy the Training Course.

Thank you and stay safe.
Forex ACI Portugal
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Forex ACI Portugal and Full Value Financial Services (ACI FMA Accredited Trainer) intend to organise a Training Course on the ACI Dealing Certificate in Lisbon from 4th to 8th May 2020.

The Course is scheduled for the headquarters of Forex ACI Portugal, and it will allow participants to obtain a working knowledge of the structure and operation of the major foreign exchange and money markets as well as of their core products (cash, forwards and derivatives), the basic skills required for competent participation, including the ability to apply the fundamental mathematics used in these markets.

The Course is designed for recent entrants in financial markets, junior dealers, middle office and operations personnel, auditors and compliance officers. It is structured to allow participants with diversified levels of experience to be adequately prepared to acquire and implement the content of the ACI Dealing Certificate and, if they wish, prepare the respective exam.

For further information on this Course, please check the website of Forex ACI Portugal on www.aci-portugal.com

pre-booking
Teaser Image
ACI Dealing Certificate Training Course in Portugal - Postponed
Venue name
ACI Portugal Head Office
Event date
Location
Lisbon, Portugal
https://www.acifma.com/events

 

Become an ACI Forex Danmark Member

If you want to become a new ACI member, you can sign up here
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ACI Member »

Regulatory

21 Nov 2019 - Risici ved overgangen til alternative referencerenter

28 Mar 2018 - Final resolution plans and MREL
19 Feb 2018 - EU authorities warn consumers about cryptocurrency

13 Nov 2017 - Statement : ICO

10 Nov 2016 - ESMA finalises advice for financial benchmarks
29 Sep 2016 - Technical standards under the benchmark regulation
26 Jul 2016 - Global principles of good practice
21 Jun 2016 - Afgørelse om yderligere likviditetskrav for danske SIFI’er
21 Jun 2016 - Notat om sanktioner af overskridelser af LCR m.m.
17 Jun 2016 - ESMA on disclosure of inside information etc.
27 May 2016 - ESMA on technical advice on benchmarks regulation
28 Apr 2016 - New rules to prevent manipulation of benchmarks
09 Mar 2016 - EU om objektiv fremlæggelse af investeringsanbefalinger
26 Feb 2016 - ACI FMA joins the BIS Single FX Code group
23 Feb 2016 - EU-wide stress testing 2016
15 Feb 2016 - Benchmarks Regulation
10 Feb 2016 - EU Comm. postpones date for the MiFID II package
28 Jan 2016 - Draft guidelines on the Market Abuse Regulation
25 Jan 2016 - EU Benchmarks Regulation

17 Dec 2015 - Guide for the assessment of knowledge and competence

03 Dec 2014 - Bekendtg. om tilsyn med fastsaettelse af referencerenter
01 Dec 2014 - Enhanced Benchmark for the Euromarkets
26 Nov 2014 - Reg. on retail and insurance-based investment products
31 Oct 2014 - Basel On Net Stable Funding
01 Oct 2014 - ACI IOSCO Response
01 Sep 2014 - Risk Mitigation re. Non-centrally Cleared OTC Derivatives
16 Apr 2014 - EUs forordning om markedsmisbrug


 
Danish regulatory initiatives can been accessed at the Danish FSA (Finanstilsynet).

News

GFXC Issues Statement on FX Market Conditions


Given the intense volatility seen in global financial markets this month, it is possible that FX market participants may execute larger than usual FX volumes during end-of-month benchmark fixings. In addition, FX market participants may face more operational constraints reflecting lockdown in some financial centres.  In light of these possible developments, significant volatility and price movements may be observed during FX fixings in the coming days.

Read more here.

Increased global turnover in kroner, but a smaller Danish foreign exchange market


In terms of turnover, the foreign exchange market is one of the world’s largest financial markets. An efficient foreign exchange market supports cross-border trade in goods, services and financial assets, which makes it essential for the economy, especially for an open economy such as the Danish. Therefore it is important to know how the foreign exchange market functions. Danmarks Nationalbank collects data for foreign exchange turnover from banks located in Denmark. Every third year, Danmarks Nationalbank provides data about trade in foreign exchange in Denmark for international statistics of turnover in the global foreign exchange market. These statistics are coordinated by the Bank for International Settlements.

Read more here.

 

BIS Triennial Central Bank Survey

The 2019 survey provided new insights about the boost that electronification gave to trading in FX and OTC derivatives markets, and the role of compression and clearing in containing the growth of outstanding derivatives exposures.

Find the BIS Quarterly Review, December 2019 here.

 

Release of the ACI Diploma New Version

ACI has now launched the Syllabus for the ACI Diploma New Version.

This is an exam that reflects some differences when compared to the ACI Diploma (currently valid with the Syllabus published in September 2017).

Update: ACI FMA Feedback on Market Abuse Regulation (MAR)


Excellent cooperation between ACI FMA Committees/Working Groups.

Following a joint cooperation between three of its Committees/Working Groups (Committee For Professionalism, Foreign Exchange Committee and Regulatory Working Group), ACI FMA has submitted a response to the ESMA Consultation Paper on the provisions of the Market Abuse Regulation (MAR), an European Union regulation that came into effect on 3 July 2016.

New ACIFMA President Delegate

Important Annoucement !

We are pleased to report that the Management Board through the Selection Committee is now ready to announce the successful candidate for the above captioned position to Council, after months of reviewing and interview.

The successful candidate is Mr. Kim Winding Larsen.

https://www.acifma.com/news

ACI Danmark
The Financial Markets Association
1957