FXC Master Agreements
The FXC Master Agreements—the FEOMA (1997), IFEMA
(1997), ICOM Master Agreement (1997) and IFXCO Master Agreement
(2005)—provide common legal terms for transactions
including payments and close-out netting provisions. The
IFEMA covers foreign exchange transactions, the ICOM Master
Agreement covers currency option transactions and the FEOMA,
a combination of the IFEMA and ICOM Master Agreement, covers
both.
The IFXCO Master Agreement updates the other FXC Master
Agreements by incorporating terms from the 1998 FX and Currency
Option Definitions and recommendations of the Global Documentation
Steering Committee. The IFXCO Master Agreement also simplifies
execution through use of an Adherence Agreement to its Terms.
The Financial Markets Lawyers Group has solicited legal
opinions on the enforceability of the FXC Master Agreements
from counsel in various jurisdictions. The Foreign Exchange
Committee also co-sponsored with the London Bullion Market
Association the 1994 International Bullion Master Agreement,
which provides common terms for bullion transactions based
on foreign exchange trading conventions.
- International Foreign
Exchange and Currency Option Master Agreement (June 2005)
- IFXCO Terms
- IFXCO Adherence
Agreement (pdf)
- IFXCO Adherence
Agreement (word)
- IFXCO Guide to Changes
to the FXC Master Agreements
- IFXCO List of
Opinions
- December 2006
Amendment to Section 1.2 of IFXCO
- Explanatory Note
for December 2006 Amendment
- FMLG Promulates
Second Amendment to the IFXCO
- Second
Amendment to the IFXCO Terms
- Explanatory
Note for IFXCO Second Amendment
- IFXCO Terms
- Revision to the Schedule to the 1997 IFEMA, ICOM and FEOMA Agreements Regarding Optional Event of Default for Japanese Counterparties (April 2003)
- International Foreign Exchange
and Options Master Agreement (FEOMA) (1997)
- International Foreign Exchange
Master Agreement (IFEMA) (1997)
- International Currency Options
Market Master Agreement (ICOM) (1997)
- International
Bullion Master Agreement and Guide (1994)