Charter

The Charter of the Tokyo Foreign Exchange Market Committee.

  1. The Committee shall be called the "Tokyo Foreign Exchange Market Committee."
  2. The Committee shall be comprised of professionals in the foreign exchange market and other related international financial markets, who are recommended to the Committee by participants in the interbank foreign exchange market (including the Bank of Japan).
  3. The purposes of the Committee shall be as follows:
    1. To provide a forum for discussing and exchanging ideas on technical issues relating to the foreign exchange market and other related international financial markets;
    2. To provide opportunities for the members of the Committee to further enhance their understanding and expertise on practices and concepts relating to the foreign exchange market and other related international financial markets;
    3. To draft and publish, as appropriate, recommendations and opinions on codes of conduct, and model agreements, relating to transactions in the foreign exchange market and other related international financial markets. In drafting such documents, the Committee shall strive to maintain consistency with those in overseas markets, equitable trading environment, and enhanced competition in the market. It should be noted that interbank market participants are not bound by any of the recommendations and opinions, and model agreements.
    4. To assist persons participating in the foreign exchange market and other related international financial markets in their efforts to enhance their understanding and expertise on these markets, through organizing seminars and editing publications; and
    5. To exchange information, as appropriate, with overseas market committees and market associations such as ACI.
  4. Unless otherwise decided by the Committee, about fifteen members would be appointed to the Committee.
  5. As a rule, a member shall serve a renewable two-ear term.
  6. Members shall attend meetings of the Committee in person. This duty cannot be delegated to others.
  7. Non-members may only attend Committee meetings by invitation of the Committee.
  8. The date and agenda of a meeting shall be circulated to members before the meeting in writing or through any other appropriate means.
  9. The Committee shall only discuss and exchange views on items listed on the circulated agenda.
  10. The Committee shall appoint one chairperson, two deputy chairpersons and one secretary, in order to facilitate the functioning of the Committee through administering the proceedings of the Committee, drafting minutes of meetings, assisting communication between members, etc. The Committee shall have no permanent secretariat.
  11. The chairperson, the deputy chairperson and the secretary shall serve one-year terms. Re-appointments and changes in duties are not precluded.
  12. The Committee may issue recommendations and opinions in its name. Minority views need not be accounted for in such recommendations and opinions.
  13. The Committee may review this Charter as appropriate.
  14. The Committee may, as appropriate, organize sub-committees in order to discuss and exchange views on issues relating to a particular area.
  15. The Committee shall publish the minutes of its meeting in a manner as it deems appropriate.
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