DOC-2011-08 Questions and Answers Regarding Forex Operations

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II - Investment Products
II. 2 - Other Investment Products
Doctrinal Position
Forex and Binary Options

Questions and Answers Regarding Forex Operations

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Applicable as of June 21, 2019 Position DOC-2011-08

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Position DOC-2011-08 clarifies that rolling spot Forex operations are financial instruments (financial contracts). Indeed, these operations, which are tacitly rolled over from day to day, constitute forward exchange operations with an indefinite maturity.

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Article L.211-1 of the Monetary and Financial Code

Article D.211-1 A of the Monetary and Financial Code
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Position DOC-2011-08 clarifies that rolling spot Forex operations are financial instruments (financial contracts). Indeed, these operations, which are tacitly rolled over from day to day, constitute forward exchange operations with an indefinite maturity. This document has not been updated regarding the texts transposing MiFID II and/or separating the legal regime of investment firms and portfolio management companies. This update will be carried out shortly.

Download the doctrinal position Reference texts

Article L.211-1 of the Monetary and Financial Code

Article D.211-1 A of the Monetary and Financial Code
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