Gerardo García, Banco de México and GFXC Chair: Assessing the Impact of the FX Global Code of Conduct

Gerardo Garcia, General Director of Central Bank Operations at Banco de México and Chair of the Global Foreign Exchange Committee (GFXC), joins the 360T Podcast to explore one of the most important initiatives shaping modern FX markets: the FX Global Code. Reflecting on its origins, he discusses how the Code has helped rebuild trust, strengthen governance, and establish a common standard of best practice across a truly global marketplace — while also highlighting where further progress is still needed, particularly on buy-side adoption. Looking ahead, Garcia examines how the Code is evolving to keep pace with a rapidly changing market environment. From artificial intelligence and automation to shifting market structure and the rise of new participants, he shares how the GFXC is approaching these developments to ensure the Code remains relevant, practical, and forward-looking.He also offers a unique perspective on the continued electronification of the Mexican FX market, the growing global significance of the peso, and the role of technology in driving greater transparency, efficiency, and resilience across FX trading.