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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:


Domestic Events

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Læs referatet af generalsamlingen her

International Events

1st ACI Central and Eastern Europe Event 18-02-2020 14:25:20
1st ACI Central and Eastern Europe Event rute.marques_8292 Tue, 02/18/2020 - 14:25

ACI Serbia, ACI Slovenia, ACI Croatia and ACI Macedonia have the pleasure to invite you to take part of the 1st ACI Central and Eastern Europe Event.

This event will be organised by these ACI National Associations and will be held from 27th to 29th March 2020 in the Hotel Hyatt in Belgrade.

The schedule is the following:

Friday, 27th March 2020:

- 21h00 – 01h00: Networking Dinner (Crystal Ballroom Hotel Hyatt)

Saturday, 28th March 2020:

- 09h00 – 09h30: Registration

- 09h30 – 11h30: 1st Part of ACI CEE Event (Crystal Ballroom Hotel Hyatt)

- 11h30 – 12h00: Coffee Break

- 12h00 – 14h00: 2nd Part of ACI CEE Event (Crystal Ballroom Hotel Hyatt)

- 14h00 – 15h00: Lunch

- 21h00 – 02h00: Gala Dinner (Kopernikus Event Center, https://kopernikus610.rs)

Registration for the ACI CEE Event should be done latest until 15th March 2020 at https://www.ubs-asb.com/en/events/32-aci-cee-event.

Price as per participant amounts to RSD 18,000.00 plus 20% VAT or EUR 150.00 plus 20% VAT.

Hotel Accommodation - I am pleased to inform you that all participants can enjoy preferable prices in hotel Hyatt Regency Belgrade for reservations done up to 28th February 2020, by registering at the link: https://www.hyatt.com/en-US/group-booking/BELGR/G-OLOL. Bookings done after 28th February 2020 will be based on rooms availability.

In case you should need any additional information, feel free to contact Branko Petrovic, the President of ACI Serbia, via e-mail branko.petrovic@unicreditgroup.rs or by phone +381 11 3770 944 and +381 66 8054 520.

We are looking forward to seeing you at the 1st ACI CEE Event.

Start Date
End Date
Teaser Image
1st ACI Central and Eastern Europe Event
Venue name
Hotel Regency Hyatt
Event date
Belgrade, Serbia
ACI Portugal - Seminar on Benchmark Regulation and the Impact on EURIBOR 14-02-2020 16:02:16
ACI Portugal - Seminar on Benchmark Regulation and the Impact on EURIBOR rute.marques_8292 Fri, 02/14/2020 - 16:02

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/

Start Date
End Date
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ACI Portugal - Seminar on Benchmark Regulation and the Impact on EURIBOR
Venue name
ACI Portugal’s Lisbon head-office
Event date
Lisbon, Portugal


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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).


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.


ACI Danmark
The Financial Markets Association